Stock of the Day: Progenics Pharmaceuticals, Inc. Stock Price Hits 52-Week High Today

Stock of the Day: Progenics Pharmaceuticals, Inc. Stock Price Hits 52 Week High Today

The stock of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) hit a new 52-week high and has $9.42 target or 8.00% above today’s $8.72 share price. The 8 months bullish chart indicates low risk for the $623.08 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $9.42 price target is reached, the company will be worth $49.85 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 870,587 shares traded hands. Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) has risen 56.32% since April 25, 2016 and is uptrending. It has outperformed by 50.30% the S&P500.

Analysts await Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) to report earnings on March, 10. They expect $-0.23 earnings per share, down 130.00% or $0.13 from last year’s $-0.1 per share. After $0.52 actual earnings per share reported by Progenics Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts -144.23% negative EPS growth.

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) Ratings Coverage

Out of 4 analysts covering Progenics Pharm (NASDAQ:PGNX), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Progenics Pharm has been the topic of 5 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Friday, August 7, the company rating was downgraded by Zacks. As per Thursday, October 27, the company rating was initiated by Aegis Capital. The rating was upgraded by Jefferies on Friday, October 23 to “Buy”. Needham maintained the shares of PGNX in a report on Friday, August 7 with “Buy” rating. The stock of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) has “Buy” rating given on Thursday, August 6 by Brean Capital.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.17 in 2016 Q2. Its up 0.41, from 0.76 in 2016Q1. The ratio improved, as 25 funds sold all Progenics Pharmaceuticals, Inc. shares owned while 29 reduced positions. 12 funds bought stakes while 29 increased positions. They now own 58.35 million shares or 1.82% less from 59.43 million shares in 2016Q1.
Legal & General Group Public Ltd Company, a United Kingdom-based fund reported 12,790 shares. Blackrock Fund has 2.72 million shares for 0% of their US portfolio. Northern Trust accumulated 0% or 808,834 shares. Symphony Asset Ltd Liability Corp has 0.01% invested in the company for 14,890 shares. Vanguard Inc, a Pennsylvania-based fund reported 2.74M shares. Phocas Fincl, a California-based fund reported 649,295 shares. The Missouri-based Duncker Streett And has invested 0.03% in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX). Cadence Management Ltd Limited Liability Company accumulated 0.06% or 192,675 shares. Tfs Ltd Llc holds 0.05% of its portfolio in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) for 60,575 shares. Fifth Third Bancshares holds 5,000 shares or 0% of its portfolio. Hall Laurie J Trustee has invested 0% of its portfolio in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX). American Intll Group Inc Inc Inc holds 40,072 shares or 0% of its portfolio. Price T Rowe Associates Md last reported 88,400 shares in the company. California State Teachers Retirement Sys reported 145,011 shares or 0% of all its holdings. Blackrock Institutional Trust Co Na has 0% invested in the company for 1.78 million shares.

Another recent and important Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) news was published by Fool.com which published an article titled: “Why Progenics Pharmaceuticals, Inc. Shares Soared Today” on July 20, 2016.

PGNX Company Profile

Progenics Pharmaceuticals, Inc., incorporated on December 1, 1986, is engaged in developing medicines and other products for targeting and treating cancer. The Company’s products in development include therapeutic agents designed to target cancer and imaging agents, which focuses on enabling clinicians and patients to accurately visualize and manage their diseases. The Company’s EXINI Bone BSI is an analytical tool that employs an artificial intelligence approach to apply techniques of statistical analysis and pattern recognition to quantify the information produced by bone scintigraphy (bone scan) images used to view cancer present in the skeleton. The EXINI Bone BSI tool reads bone scans and produces a standard, automated Bone Scan Index quantification. The Company’s clinical-stage products include AZEDRA, 1404 (trofolastat), PyL ((18F) DCFPyL), 1095 and PSMA ADC. The Company’s partnered products include Relistor- Subcutaneous injection, Relistor- Oral Tablets and PRO 140.

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