Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) Short Interest Update

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) was the target of a large decline in short interest in November. As of November 29th, there was short interest totalling 5,630,000 shares, a decline of 7.9% from the November 14th total of 6,110,000 shares. Based on an average trading volume of 1,140,000 shares, the short-interest ratio is currently 4.9 days. Approximately 7.2% of the shares of the stock are short sold.

PGNX stock traded down $0.13 during trading on Friday, hitting $5.01. 481,735 shares of the stock traded hands, compared to its average volume of 470,226. Progenics Pharmaceuticals has a one year low of $3.42 and a one year high of $6.31. The stock has a market cap of $435.57 million, a price-to-earnings ratio of -7.95 and a beta of 2.68. The company has a 50 day simple moving average of $5.39 and a 200 day simple moving average of $5.04. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.89.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02. Progenics Pharmaceuticals had a negative net margin of 311.63% and a negative return on equity of 91.96%. The firm had revenue of $5.61 million during the quarter, compared to the consensus estimate of $7.05 million.

A number of hedge funds have recently made changes to their positions in PGNX. Creative Planning lifted its holdings in Progenics Pharmaceuticals by 11.2% during the 2nd quarter. Creative Planning now owns 19,900 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 2,000 shares during the last quarter. Aperio Group LLC raised its holdings in Progenics Pharmaceuticals by 14.9% in the 2nd quarter. Aperio Group LLC now owns 33,843 shares of the biotechnology company’s stock valued at $209,000 after acquiring an additional 4,378 shares during the last quarter. TD Asset Management Inc. acquired a new position in Progenics Pharmaceuticals in the 2nd quarter valued at $262,000. DekaBank Deutsche Girozentrale raised its holdings in Progenics Pharmaceuticals by 62.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,000 shares of the biotechnology company’s stock valued at $250,000 after acquiring an additional 16,500 shares during the last quarter. Finally, Intercontinental Wealth Advisors LLC acquired a new position in Progenics Pharmaceuticals in the 2nd quarter valued at $35,000. 78.49% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Progenics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. ValuEngine downgraded shares of Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, BidaskClub downgraded shares of Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $9.75.

About Progenics Pharmaceuticals

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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