CG Asset Management LLC lowered its stake in Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) by 17.7% during the second quarter, Holdings Channel reports. The institutional investor owned 32,500 shares of the company’s stock after selling 7,000 shares during the period. CG Asset Management LLC’s holdings in Progenics Pharmaceuticals were worth $137,000 at the end of the most recent quarter.
Separately, A.R.T. Advisors LLC boosted its position in Progenics Pharmaceuticals by 241.6% in the first quarter. A.R.T. Advisors LLC now owns 307,523 shares of the company’s stock valued at $1,340,000 after buying an additional 217,500 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.
Shares of Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) traded up 0.99% on Wednesday, hitting $7.12. The stock had a trading volume of 1,284,035 shares. The company’s 50-day moving average price is $6.36 and its 200 day moving average price is $5.40. The firm’s market cap is $498.29 million. Progenics Pharmaceuticals Inc. has a 12-month low of $3.61 and a 12-month high of $8.37.
Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05. Progenics Pharmaceuticals had a negative return on equity of 41.76% and a negative net margin of 203.56%. The business earned $8.50 million during the quarter, compared to the consensus estimate of $6.33 million. During the same period in the previous year, the business earned ($0.17) EPS. The business’s quarterly revenue was up 337.6% on a year-over-year basis. On average, equities research analysts forecast that Progenics Pharmaceuticals Inc. will post $0.13 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating on shares of Progenics Pharmaceuticals in a research report on Tuesday. Brean Capital reiterated a “buy” rating on shares of Progenics Pharmaceuticals in a research report on Wednesday, June 15th. BTIG Research reiterated a “buy” rating and issued a $9.00 price objective on shares of Progenics Pharmaceuticals in a research report on Wednesday, July 20th. Zacks Investment Research upgraded Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Finally, Jefferies Group reiterated a “buy” rating on shares of Progenics Pharmaceuticals in a research report on Friday, June 10th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Progenics Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $9.35.
Progenics Pharmaceuticals Company Profile
Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s products in development include therapeutic agents designed to target cancer and imaging agents, which focuses on enabling clinicians and patients to accurately visualize and manage their diseases.
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