Progenics Pharmaceuticals (PGNX) Rating Increased to Sell at BidaskClub

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Progenics Pharmaceuticals (NASDAQ:PGNX) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, September 25th. ValuEngine lowered shares of Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. Needham & Company LLC lowered shares of Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating and decreased their target price for the stock from $16.00 to $12.00 in a research note on Thursday, September 13th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $13.00 target price on shares of Progenics Pharmaceuticals in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.69.

Shares of Progenics Pharmaceuticals stock opened at $5.32 on Tuesday. The stock has a market capitalization of $446.38 million, a P/E ratio of -5.91 and a beta of 2.81. Progenics Pharmaceuticals has a twelve month low of $4.68 and a twelve month high of $9.42. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.34 and a current ratio of 6.34.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AJ Wealth Strategies LLC purchased a new position in Progenics Pharmaceuticals in the 2nd quarter worth approximately $113,000. Clinton Group Inc. purchased a new position in Progenics Pharmaceuticals in the 2nd quarter worth approximately $121,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Progenics Pharmaceuticals in the 2nd quarter worth approximately $125,000. NumerixS Investment Technologies Inc lifted its stake in Progenics Pharmaceuticals by 163.3% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 15,800 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 9,800 shares in the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Progenics Pharmaceuticals in the 2nd quarter worth approximately $160,000. 76.39% of the stock is currently owned by institutional investors and hedge funds.

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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