Other research analysts have also recently issued research reports about the stock. BTIG Research set a $14.00 target price on shares of Progenics Pharmaceuticals and gave the company a buy rating in a research note on Monday, August 12th. UBS Group restated a positive rating on shares of Progenics Pharmaceuticals in a research note on Thursday, June 20th. BidaskClub upgraded shares of Progenics Pharmaceuticals from a sell rating to a hold rating in a research note on Friday, August 23rd. Finally, Brookline Capital Management began coverage on shares of Progenics Pharmaceuticals in a research note on Monday, July 29th. They set a buy rating and a $10.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Progenics Pharmaceuticals presently has an average rating of Buy and an average price target of $8.94.
Shares of Progenics Pharmaceuticals stock traded down $0.08 on Wednesday, hitting $5.67. 2,024,661 shares of the company’s stock were exchanged, compared to its average volume of 1,889,645. The company has a 50-day simple moving average of $4.77 and a 200-day simple moving average of $4.88. The stock has a market capitalization of $496.49 million, a PE ratio of -9.00 and a beta of 2.79. Progenics Pharmaceuticals has a 1 year low of $3.42 and a 1 year high of $6.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.25 and a current ratio of 4.25.
In other news, insider Velan Capital, L.P. bought 277,424 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $4.39 per share, for a total transaction of $1,217,891.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lte Partners, Llc bought 21,480 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average price of $4.94 per share, for a total transaction of $106,111.20. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 677,306 shares of company stock worth $2,968,406. 4.26% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intercontinental Wealth Advisors LLC purchased a new position in shares of Progenics Pharmaceuticals during the 2nd quarter valued at $35,000. Pinebridge Investments L.P. purchased a new position in shares of Progenics Pharmaceuticals during the 2nd quarter valued at $40,000. Crossmark Global Holdings Inc. purchased a new position in shares of Progenics Pharmaceuticals during the 2nd quarter valued at $62,000. Cubist Systematic Strategies LLC lifted its stake in shares of Progenics Pharmaceuticals by 1,825.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,126 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 9,600 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Progenics Pharmaceuticals by 437.9% during the 2nd quarter. Bank of Montreal Can now owns 12,286 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 10,002 shares in the last quarter. Institutional investors own 77.80% of the company’s stock.
Progenics Pharmaceuticals Company Profile
Progenics Pharmaceuticals, Inc, an oncology company, develops, manufactures, and commercializes pharmaceutical products and other technologies to target, diagnose, and treat cancer cancer in the United States and internationally. The company's product candidates include Azedra, a radiotherapeutic product candidate for the treatment of iobenguane scan positive, unresectable, and locally advanced or metastatic pheochromocytoma or paraganglioma for adult and pediatric patients; PyL, a clinical-stage fluorinated prostate specific membrane antigen (PSMA)-targeted PET/CT imaging agent for prostate cancer; and 1095, a PSMA-targeted Iodine-131 labeled small molecule, which is in Phase II clinical trial for the treatment of metastatic castration-resistant prostate cancer.
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