Progenics Pharmaceuticals (NASDAQ:PGNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
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. “
Several other brokerages also recently commented on PGNX. Cantor Fitzgerald set a $15.00 target price on Progenics Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, March 8th. BidaskClub raised Progenics Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 8th. Finally, ValuEngine downgraded Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Progenics Pharmaceuticals has an average rating of “Buy” and a consensus target price of $12.35.
Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its earnings results on Thursday, March 8th. The biotechnology company reported ($0.21) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). The firm had revenue of $3.90 million for the quarter, compared to the consensus estimate of $3.18 million. Progenics Pharmaceuticals had a negative return on equity of 87.30% and a negative net margin of 436.08%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) EPS. analysts forecast that Progenics Pharmaceuticals will post -0.83 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in PGNX. Fox Run Management L.L.C. acquired a new position in shares of Progenics Pharmaceuticals in the 4th quarter valued at about $100,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Progenics Pharmaceuticals in the 4th quarter valued at about $101,000. Aperio Group LLC acquired a new position in shares of Progenics Pharmaceuticals in the 3rd quarter valued at about $118,000. Teacher Retirement System of Texas acquired a new position in shares of Progenics Pharmaceuticals in the 4th quarter valued at about $142,000. Finally, Millennium Management LLC acquired a new position in shares of Progenics Pharmaceuticals in the 4th quarter valued at about $169,000. 86.51% of the stock is currently owned by institutional investors.
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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.
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