Federated Investors Inc. PA trimmed its stake in shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) by 31.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,996,055 shares of the biotechnology company’s stock after selling 3,191,708 shares during the quarter. Federated Investors Inc. PA owned 9.28% of Progenics Pharmaceuticals worth $56,248,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clinton Group Inc. acquired a new position in Progenics Pharmaceuticals during the 2nd quarter worth $121,000. Jane Street Group LLC grew its stake in Progenics Pharmaceuticals by 296.0% during the 1st quarter. Jane Street Group LLC now owns 48,685 shares of the biotechnology company’s stock worth $363,000 after purchasing an additional 36,391 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Progenics Pharmaceuticals by 268.7% during the 1st quarter. JPMorgan Chase & Co. now owns 326,562 shares of the biotechnology company’s stock worth $2,436,000 after purchasing an additional 237,992 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in Progenics Pharmaceuticals during the 4th quarter worth $192,000. Finally, Eagle Asset Management Inc. grew its stake in Progenics Pharmaceuticals by 7.5% during the 1st quarter. Eagle Asset Management Inc. now owns 4,470,838 shares of the biotechnology company’s stock worth $33,352,000 after purchasing an additional 310,078 shares in the last quarter. 88.74% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ PGNX opened at $7.93 on Thursday. The stock has a market cap of $607.40 million, a price-to-earnings ratio of -8.81 and a beta of 2.43. The company has a quick ratio of 6.34, a current ratio of 6.34 and a debt-to-equity ratio of 0.68. Progenics Pharmaceuticals, Inc. has a 1 year low of $5.01 and a 1 year high of $9.42.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Tuesday, July 31st. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.02). The business had revenue of $3.88 million for the quarter, compared to analysts’ expectations of $3.30 million. Progenics Pharmaceuticals had a negative return on equity of 94.45% and a negative net margin of 341.41%. equities research analysts expect that Progenics Pharmaceuticals, Inc. will post -0.64 EPS for the current fiscal year.
Several research analysts recently commented on the company. ValuEngine cut Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 4th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $14.00 price target on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $13.00 price target on shares of Progenics Pharmaceuticals in a report on Wednesday, August 1st. Finally, BidaskClub downgraded Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Progenics Pharmaceuticals has an average rating of “Buy” and a consensus price target of $12.19.
Progenics Pharmaceuticals Company Profile
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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