Progenics Pharmaceuticals (NASDAQ:PGNX) Stock Rating Upgraded by BidaskClub

Progenics Pharmaceuticals (NASDAQ:PGNX) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday, January 17th.

PGNX has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a research report on Wednesday, January 16th. ValuEngine upgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Finally, Credit Suisse Group started coverage on shares of Progenics Pharmaceuticals in a research note on Friday, December 7th. They set an “outperform” rating and a $6.50 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $10.35.

NASDAQ:PGNX traded down $0.06 on Thursday, reaching $4.52. The stock had a trading volume of 719,585 shares, compared to its average volume of 975,447. The firm has a market cap of $382.13 million, a PE ratio of -5.02 and a beta of 2.40. Progenics Pharmaceuticals has a 1-year low of $3.62 and a 1-year high of $9.42. The company has a quick ratio of 9.51, a current ratio of 9.51 and a debt-to-equity ratio of 0.33.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.09. Progenics Pharmaceuticals had a negative net margin of 341.78% and a negative return on equity of 66.86%. The firm had revenue of $5.32 million for the quarter, compared to analyst estimates of $4.14 million. On average, research analysts expect that Progenics Pharmaceuticals will post -0.76 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in PGNX. New York State Teachers Retirement System lifted its stake in Progenics Pharmaceuticals by 1.7% in the fourth quarter. New York State Teachers Retirement System now owns 137,761 shares of the biotechnology company’s stock valued at $579,000 after acquiring an additional 2,350 shares during the last quarter. New York State Common Retirement Fund lifted its stake in Progenics Pharmaceuticals by 2.0% in the fourth quarter. New York State Common Retirement Fund now owns 179,738 shares of the biotechnology company’s stock valued at $755,000 after acquiring an additional 3,500 shares during the last quarter. Arizona State Retirement System lifted its stake in Progenics Pharmaceuticals by 7.0% in the fourth quarter. Arizona State Retirement System now owns 130,195 shares of the biotechnology company’s stock valued at $547,000 after acquiring an additional 8,559 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in Progenics Pharmaceuticals in the fourth quarter valued at $42,000. Finally, Virtus ETF Advisers LLC lifted its stake in Progenics Pharmaceuticals by 24.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 64,532 shares of the biotechnology company’s stock valued at $271,000 after acquiring an additional 12,534 shares during the last quarter. Institutional investors and hedge funds own 91.92% of the company’s stock.

About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc develops medicines and other technologies to target and treat cancer in the United States and internationally. The company's primary clinical-stage product candidates include Azedra, a radiotherapeutic product candidate, which is in Phase IIb clinical trial under special protocol assessment for the treatment of malignant, recurrent, and/or unresectable pheochromocytoma and paraganglioma; 1404, a technetium-99m labeled small molecule, which is in Phase III clinical trial that acts as an imaging agent to diagnose and detect prostate cancer, as well as soft tissue and bone metastases; and PyL, a fluorinated prostate specific membrane antigen (PSMA)-targeted positron emission topography (PET) imaging agent for prostate cancer.

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