Wall Street analysts expect Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) to post $13.12 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Progenics Pharmaceuticals’ earnings, with the highest sales estimate coming in at $17.94 million and the lowest estimate coming in at $8.30 million. Progenics Pharmaceuticals reported sales of $3.89 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 237.3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, March 14th.
On average, analysts expect that Progenics Pharmaceuticals will report full year sales of $25.52 million for the current year, with estimates ranging from $20.70 million to $30.33 million. For the next financial year, analysts forecast that the company will post sales of $52.60 million, with estimates ranging from $42.40 million to $62.80 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Progenics Pharmaceuticals.
Get Progenics Pharmaceuticals alerts:Several research firms have weighed in on PGNX. ValuEngine raised Progenics Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Zacks Investment Research raised Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 10th. BidaskClub raised Progenics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 6th. Finally, Credit Suisse Group began coverage on Progenics Pharmaceuticals in a research report on Friday, December 7th. They set an “outperform” rating and a $6.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $10.35.
PGNX stock traded down $0.14 during midday trading on Thursday, hitting $4.26. The company’s stock had a trading volume of 2,655,863 shares, compared to its average volume of 1,090,232. The company has a current ratio of 9.51, a quick ratio of 9.51 and a debt-to-equity ratio of 0.33. Progenics Pharmaceuticals has a 1 year low of $3.62 and a 1 year high of $9.42. The stock has a market cap of $377.06 million, a P/E ratio of -4.73 and a beta of 2.40.
Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in shares of Progenics Pharmaceuticals during the 3rd quarter valued at $102,000. Fosun International Ltd lifted its position in shares of Progenics Pharmaceuticals by 14.0% during the 4th quarter. Fosun International Ltd now owns 454,588 shares of the biotechnology company’s stock valued at $1,773,000 after buying an additional 56,000 shares during the last quarter. Creative Planning lifted its holdings in Progenics Pharmaceuticals by 23.9% during the 3rd quarter. Creative Planning now owns 258,600 shares of the biotechnology company’s stock worth $1,621,000 after purchasing an additional 49,890 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Progenics Pharmaceuticals by 6.9% during the 3rd quarter. Teachers Advisors LLC now owns 241,655 shares of the biotechnology company’s stock worth $1,515,000 after purchasing an additional 15,696 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Progenics Pharmaceuticals by 6.8% during the 2nd quarter. Northern Trust Corp now owns 934,820 shares of the biotechnology company’s stock worth $7,516,000 after purchasing an additional 59,558 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
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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