Progenics Pharmaceuticals (PGNX) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Progenics Pharmaceuticals (NASDAQ:PGNX) posted its earnings results on Thursday. The biotechnology company reported ($0.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.14), Fidelity Earnings reports. Progenics Pharmaceuticals had a negative return on equity of 66.86% and a negative net margin of 341.78%.

Shares of Progenics Pharmaceuticals stock opened at $4.42 on Friday. The stock has a market capitalization of $355.91 million, a P/E ratio of -4.91 and a beta of 2.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.51 and a quick ratio of 9.51. Progenics Pharmaceuticals has a 1 year low of $3.62 and a 1 year high of $9.42.

Several equities research analysts have recently commented on the stock. BidaskClub cut shares of Progenics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, December 7th. Zacks Investment Research upgraded shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a research note on Thursday, February 21st. Finally, Credit Suisse Group initiated coverage on shares of Progenics Pharmaceuticals in a research note on Friday, December 7th. They issued an “outperform” rating and a $6.50 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $10.35.

A number of large investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System increased its stake in Progenics Pharmaceuticals by 1.7% during the 4th quarter. New York State Teachers Retirement System now owns 137,761 shares of the biotechnology company’s stock valued at $579,000 after purchasing an additional 2,350 shares in the last quarter. Texas Permanent School Fund increased its stake in Progenics Pharmaceuticals by 4.9% during the 4th quarter. Texas Permanent School Fund now owns 55,324 shares of the biotechnology company’s stock valued at $232,000 after purchasing an additional 2,565 shares in the last quarter. New York State Common Retirement Fund increased its stake in Progenics Pharmaceuticals by 2.0% during the 4th quarter. New York State Common Retirement Fund now owns 179,738 shares of the biotechnology company’s stock valued at $755,000 after purchasing an additional 3,500 shares in the last quarter. Principal Financial Group Inc. increased its stake in Progenics Pharmaceuticals by 1.2% during the 4th quarter. Principal Financial Group Inc. now owns 709,721 shares of the biotechnology company’s stock valued at $2,981,000 after purchasing an additional 8,257 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Progenics Pharmaceuticals by 7.0% during the 4th quarter. Arizona State Retirement System now owns 130,195 shares of the biotechnology company’s stock valued at $547,000 after purchasing an additional 8,559 shares in the last quarter. Institutional investors and hedge funds own 87.59% of the company’s stock.

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About Progenics Pharmaceuticals

Progenics Pharmaceuticals, Inc develops medicines and other technologies to target and treat cancer in the United States and internationally. The company's primary clinical-stage product candidates include Azedra, a radiotherapeutic product candidate, which is in Phase IIb clinical trial under special protocol assessment for the treatment of malignant, recurrent, and/or unresectable pheochromocytoma and paraganglioma; 1404, a technetium-99m labeled small molecule, which is in Phase III clinical trial that acts as an imaging agent to diagnose and detect prostate cancer, as well as soft tissue and bone metastases; and PyL, a fluorinated prostate specific membrane antigen (PSMA)-targeted positron emission topography (PET) imaging agent for prostate cancer.

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Earnings History for Progenics Pharmaceuticals (NASDAQ:PGNX)

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