Stock Buzzer: What’s Progenics Pharmaceuticals, Inc. Downside After Today’s Big Decline?

Stock Buzzer: What's Progenics Pharmaceuticals, Inc. Downside After Today's Big Decline?

The stock of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) is a huge mover today! About 604,375 shares traded hands. Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) has risen 48.94% since March 8, 2016 and is uptrending. It has outperformed by 39.62% the S&P500.
The move comes after 5 months negative chart setup for the $458.14 million company. It was reported on Oct, 11 by We have $5.91 PT which if reached, will make NASDAQ:PGNX worth $45.81M less.

Analysts await Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) to report earnings on November, 14. They expect $0.52 earnings per share, up 471.43% or $0.66 from last year’s $-0.14 per share. PGNX’s profit will be $36.26M for 3.16 P/E if the $0.52 EPS becomes a reality. After $-0.08 actual earnings per share reported by Progenics Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts -750.00% EPS growth.

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

Out of 3 analysts covering Progenics Pharm (NASDAQ:PGNX), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Progenics Pharm has been the topic of 4 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by Brean Capital on Thursday, August 6 with “Buy”. Needham maintained Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) rating on Friday, August 7. Needham has “Buy” rating and $11 price target. The company was downgraded on Friday, August 7 by Zacks. The company was upgraded on Friday, October 23 by Jefferies.

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 decreased to 0.76 in 2016 Q2. Its down 0.09, from 0.85 in 2016Q1. The ratio worsened, 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.
Moreover, Bnp Paribas Arbitrage Sa has 0% invested in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) for 2,559 shares. Cadence Management Llc, a Massachusetts-based fund reported 192,675 shares. Teachers Advsrs Incorporated accumulated 0% or 109,166 shares. California Public Employees Retirement System last reported 0% of its portfolio in the stock. Sabby Management Limited Liability Company accumulated 0.04% or 174,900 shares. Moreover, Ladenburg Thalmann Finance has 0% invested in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) for 2,819 shares. Teacher Retirement System Of Texas holds 0% or 9,729 shares in its portfolio. The Ohio-based Strs Ohio has invested 0% in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX). Blackrock Gp, a United Kingdom-based fund reported 24,095 shares. Creative Planning, a Kansas-based fund reported 3,000 shares. Tiaa Cref Inv Mngmt Llc, a New York-based fund reported 259,972 shares. Virginia Retirement Sys Et Al accumulated 10,400 shares or 0% of the stock. Kcg holds 43,712 shares or 0% of its portfolio. Price T Rowe Assoc Incorporated Md owns 88,400 shares or 0% of their US portfolio. Moreover, Federated Investors Pa has 0.16% invested in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) for 13.16M shares.

More recent Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) news were published by: which released: “Why Progenics Pharmaceuticals, Inc. Is Rising Today” on October 04, 2016. Also published the news titled: “Why Progenics Pharmaceuticals, Inc. Shares Soared Today” on July 20, 2016.‘s news article titled: “Progenics Pharmaceuticals Announces Appointment of Bryce V. Tenbarge as Vice …” with publication date: September 07, 2016 was also an interesting one.

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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