State of Tennessee Treasury Department Purchases New Position in Progenics Pharmaceuticals Inc. (PGNX)

State of Tennessee Treasury Department acquired a new position in Progenics Pharmaceuticals Inc. (NASDAQ:PGNX) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 65,505 shares of the biotechnology company’s stock, valued at approximately $618,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC raised its position in shares of Progenics Pharmaceuticals by 3.4% in the fourth quarter. FMR LLC now owns 3,580,156 shares of the biotechnology company’s stock worth $30,933,000 after buying an additional 119,000 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Progenics Pharmaceuticals by 92.2% in the first quarter. Bank of New York Mellon Corp now owns 1,098,566 shares of the biotechnology company’s stock worth $10,370,000 after buying an additional 526,905 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Progenics Pharmaceuticals during the first quarter worth $3,472,000. Acadian Asset Management LLC acquired a new position in shares of Progenics Pharmaceuticals during the first quarter worth $2,669,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Progenics Pharmaceuticals during the first quarter worth $1,899,000. 92.66% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Progenics Pharmaceuticals (NASDAQ:PGNX)

Shares of Progenics Pharmaceuticals Inc. (NASDAQ PGNX) opened at 6.90 on Tuesday. The firm has a market cap of $484.55 million, a price-to-earnings ratio of 71.13 and a beta of 3.37. The firm has a 50-day moving average price of $6.95 and a 200 day moving average price of $8.81. Progenics Pharmaceuticals Inc. has a 12-month low of $4.00 and a 12-month high of $11.72.

Progenics Pharmaceuticals (NASDAQ:PGNX) last issued its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.07. Progenics Pharmaceuticals had a net margin of 10.24% and a return on equity of 7.50%. The firm had revenue of $2.40 million for the quarter, compared to analyst estimates of $4.50 million. During the same quarter last year, the business posted ($0.18) earnings per share. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Progenics Pharmaceuticals Inc. will post ($0.79) earnings per share for the current fiscal year.

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PGNX has been the topic of a number of recent analyst reports. TheStreet lowered Progenics Pharmaceuticals from a “c” rating to a “d+” rating in a report on Friday, May 26th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $14.00 price objective on shares of Progenics Pharmaceuticals in a report on Sunday, April 2nd. Zacks Investment Research lowered Progenics Pharmaceuticals from a “buy” rating to a “sell” rating in a report on Wednesday, May 10th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $12.00 target price on shares of Progenics Pharmaceuticals in a report on Thursday, June 8th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Progenics Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $10.96.

Progenics Pharmaceuticals Company Profile

Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer. The Company’s pipeline includes therapeutic agents designed to target cancer (AZEDRA and 1095); prostate specific membrane antigen (PSMA)-targeted imaging agents for prostate cancer (1404 and PyL), and imaging analysis tools.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PGNX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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