Wall Street brokerages forecast that Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) will post $3.97 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Progenics Pharmaceuticals’ earnings, with the highest sales estimate coming in at $4.24 million and the lowest estimate coming in at $3.70 million. Progenics Pharmaceuticals reported sales of $2.70 million in the same quarter last year, which indicates a positive year-over-year growth rate of 47%. The business is expected to announce its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Progenics Pharmaceuticals will report full-year sales of $23.03 million for the current financial year, with estimates ranging from $17.70 million to $28.36 million. For the next financial year, analysts anticipate that the business will report sales of $63.53 million per share, with estimates ranging from $52.46 million to $74.60 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Progenics Pharmaceuticals.

Progenics Pharmaceuticals (NASDAQ:PGNX) last released its quarterly earnings data on Tuesday, July 31st. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.02). Progenics Pharmaceuticals had a negative net margin of 341.41% and a negative return on equity of 94.45%. The business had revenue of $3.88 million during the quarter, compared to the consensus estimate of $3.30 million.

Several equities analysts have recently commented on the company. BidaskClub downgraded Progenics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $13.00 target price on shares of Progenics Pharmaceuticals in a research report on Wednesday, August 1st. Cantor Fitzgerald set a $15.00 target price on Progenics Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, May 9th. ValuEngine raised Progenics Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, May 23rd. Finally, Needham & Company LLC reissued a “strong-buy” rating and set a $14.00 price target on shares of Progenics Pharmaceuticals in a research report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. Progenics Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $12.19.

A number of large investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY acquired a new stake in Progenics Pharmaceuticals during the 4th quarter worth about $101,000. AJ Wealth Strategies LLC acquired a new stake in Progenics Pharmaceuticals during the 2nd quarter worth about $113,000. Campbell & CO Investment Adviser LLC acquired a new stake in Progenics Pharmaceuticals during the 1st quarter worth about $117,000. Clinton Group Inc. acquired a new stake in Progenics Pharmaceuticals during the 2nd quarter worth about $121,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Progenics Pharmaceuticals during the 2nd quarter worth about $125,000. 85.32% of the stock is owned by institutional investors and hedge funds.

Shares of Progenics Pharmaceuticals stock traded down $0.11 on Tuesday, hitting $7.65. The stock had a trading volume of 29,306 shares, compared to its average volume of 2,451,022. Progenics Pharmaceuticals has a twelve month low of $5.01 and a twelve month high of $9.42. The company has a current ratio of 6.34, a quick ratio of 6.34 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $596.09 million, a price-to-earnings ratio of -8.63 and a beta of 2.43.

Progenics Pharmaceuticals Company Profile

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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Earnings History and Estimates for Progenics Pharmaceuticals (NASDAQ:PGNX)

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