BidaskClub cut shares of Progenics Pharmaceuticals (NASDAQ:PGNX) from a hold rating to a sell rating in a research report released on Wednesday morning, BidAskClub reports.

Several other research firms have also recently commented on PGNX. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, May 22nd. UBS Group reissued a positive rating on shares of Progenics Pharmaceuticals in a research note on Thursday, June 20th. Finally, Brookline Capital Management started coverage on shares of Progenics Pharmaceuticals in a research note on Monday, July 29th. They set a buy rating and a $10.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $9.55.

Progenics Pharmaceuticals stock traded down $0.18 during trading hours on Wednesday, hitting $3.62. 7,165 shares of the stock were exchanged, compared to its average volume of 684,070. The company has a quick ratio of 4.81, a current ratio of 4.81 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $337.04 million, a PE ratio of -5.78 and a beta of 2.76. Progenics Pharmaceuticals has a 12 month low of $3.62 and a 12 month high of $8.11. The stock has a 50-day moving average of $5.31.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings data on Friday, August 9th. The biotechnology company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.02). Progenics Pharmaceuticals had a negative return on equity of 60.76% and a negative net margin of 339.86%. The firm had revenue of $9.97 million for the quarter, compared to the consensus estimate of $6.40 million. As a group, sell-side analysts expect that Progenics Pharmaceuticals will post -1 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Intercontinental Wealth Advisors LLC bought a new position in Progenics Pharmaceuticals in the second quarter valued at approximately $35,000. Pinebridge Investments L.P. bought a new position in Progenics Pharmaceuticals in the second quarter valued at approximately $40,000. Crossmark Global Holdings Inc. bought a new position in Progenics Pharmaceuticals in the second quarter valued at approximately $62,000. Cubist Systematic Strategies LLC boosted its stake in Progenics Pharmaceuticals by 1,825.1% in the second quarter. Cubist Systematic Strategies LLC now owns 10,126 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 9,600 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Progenics Pharmaceuticals by 437.9% in the second quarter. Bank of Montreal Can now owns 12,286 shares of the biotechnology company’s stock valued at $76,000 after acquiring an additional 10,002 shares during the last quarter. 79.93% of the stock is currently owned by institutional investors and hedge funds.

Progenics Pharmaceuticals Company Profile

Progenics Pharmaceuticals, Inc, an oncology company, develops, manufactures, and commercializes pharmaceutical products and other technologies to target, diagnose, and treat cancer cancer in the United States and internationally. The company's product candidates include Azedra, a radiotherapeutic product candidate for the treatment of iobenguane scan positive, unresectable, and locally advanced or metastatic pheochromocytoma or paraganglioma for adult and pediatric patients; PyL, a clinical-stage fluorinated prostate specific membrane antigen (PSMA)-targeted PET/CT imaging agent for prostate cancer; and 1095, a PSMA-targeted Iodine-131 labeled small molecule, which is in Phase II clinical trial for the treatment of metastatic castration-resistant prostate cancer.

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Analyst Recommendations for Progenics Pharmaceuticals (NASDAQ:PGNX)

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