Bank of America Corp DE Trims Holdings in Progenics Pharmaceuticals, Inc. (PGNX)

Bank of America Corp DE reduced its holdings in shares of Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) by 35.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 146,969 shares of the biotechnology company’s stock after selling 82,212 shares during the period. Bank of America Corp DE’s holdings in Progenics Pharmaceuticals were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PGNX. Oregon Public Employees Retirement Fund purchased a new stake in Progenics Pharmaceuticals during the fourth quarter valued at approximately $32,000. Quantamental Technologies LLC purchased a new stake in Progenics Pharmaceuticals during the fourth quarter valued at approximately $42,000. Advisor Group Inc. increased its holdings in Progenics Pharmaceuticals by 2,466.1% during the fourth quarter. Advisor Group Inc. now owns 12,651 shares of the biotechnology company’s stock valued at $53,000 after buying an additional 12,158 shares during the last quarter. Boston Advisors LLC purchased a new stake in Progenics Pharmaceuticals during the fourth quarter valued at approximately $55,000. Finally, SG Americas Securities LLC purchased a new stake in Progenics Pharmaceuticals during the fourth quarter valued at approximately $55,000. 88.01% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ PGNX opened at $4.65 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 4.81 and a quick ratio of 4.81. The firm has a market capitalization of $409.19 million, a PE ratio of -7.38 and a beta of 2.45. Progenics Pharmaceuticals, Inc. has a 1 year low of $3.62 and a 1 year high of $9.42.

Progenics Pharmaceuticals (NASDAQ:PGNX) last announced its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. The firm had revenue of $4.28 million during the quarter, compared to analysts’ expectations of $3.71 million. Progenics Pharmaceuticals had a negative net margin of 436.57% and a negative return on equity of 61.96%. As a group, research analysts predict that Progenics Pharmaceuticals, Inc. will post -0.71 earnings per share for the current fiscal year.

PGNX has been the subject of a number of research reports. Zacks Investment Research raised shares of Progenics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a report on Friday, February 8th. BidaskClub raised shares of Progenics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. Progenics Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $10.35.

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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.

Further Reading: How To Calculate Debt-to-Equity Ratio

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Institutional Ownership by Quarter for Progenics Pharmaceuticals (NASDAQ:PGNX)

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