Progenics Pharmaceuticals (PGNX) : Analyst Rating Update

Progenics Pharmaceuticals (PGNX) : Zacks Investment Research ranks Progenics Pharmaceuticals (PGNX) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. The average broker rating of 2 research analysts is 1, which indicates as a Strong Buy.

Progenics Pharmaceuticals (PGNX) stock is expected to deviate a maximum of $3.54 from the average target price of $11.5 for the short term period. 2 Street Experts have initiated coverage on the stock with the most promising target being $14 and the most muted being $9.

Progenics Pharmaceuticals (NASDAQ:PGNX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $4.58 and $4.53 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.10. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.06, notching a gain of 9.29% for the day. The total traded volume was 1,998,374 . The stock had closed at $4.63 on the previous day.

The company shares have dropped -35.43% from its 1 Year high price. On Jul 28, 2015, the shares registered one year high at $11.15 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $4.69 and the 200 Day Moving Average price is recorded at $4.73.

Progenics Pharmaceuticals, engaged in developing medicines for oncology. The Company completed Phase II clinical trials of two product candidates for prostate cancer, and resumed a pivotal Phase II trial of an ultra-orphan radiotherapy candidate for pheochromocytoma. Its principal clinical-stage product candidates in oncology are PSMA ADC, 1404 (trofolastat) and Azedra. PSMA ADC is a human monoclonal antibody-drug conjugate designed to deliver a chemotherapeutic agent to cancer cells by targeting the three-dimensional structure of the PSMA protein. 1404 (trofolastat) is a radio-labeled small molecule, which binds PSMA and acts as an imaging agent to diagnose and detect prostate cancer. Azedra is a radiotherapeutic product candidate in development as a treatment for pheochromocytoma, a rare tumor found in the adrenal glands, and related paraganglioma tumors occurring in other tissues. The Company also commercializes Relistor, a cure for opioid-induced constipation (OIC).

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