Economy

Progenics Pharmaceuticals Inc. (PGNX) Position Boosted by Ardsley Advisory Partners

(NASDAQ:PGNX) by 34.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,393 shares of the biotechnology company's stock after selling 369,398 shares during the period. Park West Asset Management LLC raised its position in Progenics Pharmaceuticals by 102.1% in the first quarter. Bank of New York Mellon Corp increased its position in shares of Progenics Pharmaceuticals by 92.2% in the first quarter. Numeric Investors LLC bought a new stake in Progenics Pharmaceuticals during the 2nd quarter worth approximately $2,877,000. Municipal Employees Retirement System of MI boosted its holdings in Progenics Pharmaceuticals by 4.0% in the 2nd quarter. With that said, researchers took a deep dive into the hotly debated question: is it too early to buy Progenics Pharmaceuticals, Inc. BlackRock Inc. now owns 9,523,053 shares of the biotechnology company's stock valued at $89,897,000 after purchasing an additional 9,516,686 shares in the last quarter. CCI is relatively high when prices are much higher than average, and relatively low when prices are much lower than the average. The firm owned 510,000 shares of the biotechnology company's stock after purchasing an additional 131,500 shares during the quarter. During current year the company's forecasts over growth are -700% while for the next year analysts' growth estimation is 60%. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. Finally, Jefferies Group reiterated a buy rating on shares of Progenics Pharmaceuticals in a research note on Friday, June 10th. Cantor Fitzgerald began coverage on Progenics Pharmaceuticals in a report on Wednesday, July 12th.

YNDX's mean recommendation on Reuter's scale presents no change from 2.14 thirty days ago to 2.14 now, which indicates a hold consensus from the analyst community.

Taking a glance at where the stock might be directed in the future, on a consensus basis, the sell-side has a 52 week price target of $13.5 on the stock, this valuation is based on 6 number of opinions.

Progenics Pharmaceuticals, Inc is engaged in developing medicines and other products for targeting and treating cancer.

A number of equities analysts recently weighed in on PGNX shares. If you are accessing this article on another website, it was stolen and reposted in violation of worldwide copyright & trademark legislation. Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) is -21.57% below its 200-day moving average, providing a measure of resistance for long positions. Zacks Investment Research upgraded Progenics Pharmaceuticals from a hold rating to a buy rating and set a $6.75 price objective on the stock in a research note on Tuesday, July 26th. (NASDAQ:PGNX) advice adding it to buy candidate list. The stock is now moving below its 20-Day Simple Moving Average of -12.51% with a 50-Day Simple Moving Average of -6.92 percent. Their average price target spell out an upbeat performance - a 121% and would give PGNX a market capitalization of almost $962.01M.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings results on Wednesday, August 9th. The company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.05. The company now has a Return on Equity of -4.1% and a Return on Investment of 7.3%. The company had revenue of $8.50 million for the quarter, compared to analysts' expectations of $6.33 million. Its revenue stood at 0.80% a year on average in the period of last five years. Likewise, the upbeat performance for the last quarter was 12.73% and for the full year it was 46.83%. Ameriprise Financial Inc. acquired a new stake in shares of Progenics Pharmaceuticals in the first quarter worth $3,472,000.



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