Today: Today, Progenics Pharmaceuticals’ (PGNX) “Buy” Rating Reaffirm at Jefferies Group

Today, Progenics Pharmaceuticals’ (PGNX) “Buy” Rating Reaffirm at Jefferies Group

Progenics Pharmaceuticals Inc. (NASDAQ:PGNX)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group in a note issued to investors on Tuesday. They presently have a $9.00 price objective on the stock. Jefferies Group’s target price indicates a potential upside of 3.93% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Brean Capital initiated coverage on shares of Progenics Pharmaceuticals in a report on Tuesday, October 4th. They set a “buy” rating and a $11.00 target price on the stock. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a report on Tuesday, July 26th. BTIG Research reiterated a “buy” rating and set a $9.00 target price on shares of Progenics Pharmaceuticals in a report on Wednesday, July 20th. Needham & Company LLC reiterated a “buy” rating on shares of Progenics Pharmaceuticals in a report on Tuesday, October 4th. Finally, Aegis initiated coverage on shares of Progenics Pharmaceuticals in a report on Wednesday, October 26th. They set a “buy” rating and a $11.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $9.63.

Shares of Progenics Pharmaceuticals (NASDAQ:PGNX) traded up 2.00% on Tuesday, reaching $8.66. 794,147 shares of the company’s stock traded hands. The company has a market cap of $606.64 million, a PE ratio of 55.87 and a beta of 2.77. The stock has a 50-day moving average price of $6.37 and a 200-day moving average price of $5.80. Progenics Pharmaceuticals has a 12-month low of $3.61 and a 12-month high of $8.71.

Progenics Pharmaceuticals (NASDAQ:PGNX) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The company earned $53.90 million during the quarter, compared to analysts’ expectations of $52.90 million. Progenics Pharmaceuticals had a return on equity of 12.27% and a net margin of 15.55%. The company’s quarterly revenue was up 3750.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.14) EPS. Equities research analysts anticipate that Progenics Pharmaceuticals will post $0.07 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in PGNX. Integre Asset Management LLC boosted its stake in Progenics Pharmaceuticals by 118.1% in the first quarter. Integre Asset Management LLC now owns 59,648 shares of the company’s stock worth $260,000 after buying an additional 32,293 shares during the period. A.R.T. Advisors LLC boosted its stake 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 worth $1,340,000 after buying an additional 217,500 shares during the period. Rice Hall James & Associates LLC boosted its stake in Progenics Pharmaceuticals by 4.9% in the second quarter. Rice Hall James & Associates LLC now owns 964,797 shares of the company’s stock worth $4,071,000 after buying an additional 44,906 shares during the period. Bank of New York Mellon Corp boosted its stake in Progenics Pharmaceuticals by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 559,054 shares of the company’s stock worth $2,360,000 after buying an additional 2,357 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in Progenics Pharmaceuticals during the second quarter worth approximately $278,000. Institutional investors and hedge funds own 84.22% of the company’s stock.

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