Progenics Pharmaceuticals (NASDAQ:PGNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.
According to Zacks, “Progenics Pharmaceuticals, Inc. is developing innovative medicines for oncology, with a pipeline that includes several product candidates in later-stage clinical development. Progenics’ first-in-class PSMA-targeted technology platform for prostate cancer includes an antibody drug conjugate therapeutic in a two-cohort phase 2 clinical trial and a small molecule imaging agent that has completed patient dosing in a phase 2 trial. Among other assets in its pipeline of targeted radiotherapy and molecular imaging compounds is Azedra(TM), an ultra-orphan radiotherapy candidate also in a phase 2 study under an SPA. Progenics’ first commercial product, Relistor(R) (methylnaltrexone bromide) for opioid-induced constipation, is partnered with and marketed by Salix Pharmaceuticals, Inc. “
Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Progenics Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 29th. Needham & Company LLC boosted their target price on shares of Progenics Pharmaceuticals from $14.00 to $16.00 and gave the company a “strong-buy” rating in a research report on Tuesday, July 31st. Finally, BidaskClub downgraded shares of Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $11.69.
NASDAQ:PGNX opened at $5.41 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 6.34 and a current ratio of 6.34. Progenics Pharmaceuticals has a 52 week low of $4.68 and a 52 week high of $9.42. The firm has a market capitalization of $474.28 million, a PE ratio of -6.01 and a beta of 2.81.
Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings data 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 341.41% and a negative return on equity of 94.45%. The company had revenue of $5.32 million for the quarter, compared to analyst estimates of $4.14 million. Equities research analysts forecast that Progenics Pharmaceuticals will post -0.67 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in PGNX. BlackRock Inc. lifted its position in shares of Progenics Pharmaceuticals by 16.7% during the 3rd quarter. BlackRock Inc. now owns 13,293,243 shares of the biotechnology company’s stock valued at $83,349,000 after acquiring an additional 1,902,006 shares during the period. Fosun International Ltd acquired a new position in shares of Progenics Pharmaceuticals during the 3rd quarter valued at $2,463,000. UBS Group AG lifted its position in shares of Progenics Pharmaceuticals by 4,046.3% during the 1st quarter. UBS Group AG now owns 118,044 shares of the biotechnology company’s stock valued at $880,000 after acquiring an additional 115,197 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Progenics Pharmaceuticals by 9.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,160,542 shares of the biotechnology company’s stock valued at $7,277,000 after acquiring an additional 97,561 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Progenics Pharmaceuticals by 312.3% during the 2nd quarter. Millennium Management LLC now owns 119,350 shares of the biotechnology company’s stock valued at $960,000 after acquiring an additional 90,400 shares during the period. Institutional investors own 76.39% of the company’s stock.
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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