What Next for Progenics Pharmaceuticals, Inc. (PGNX) After Forming Double Bottom Chart Pattern?

February 15, 2018 - By Adrian Mccoy

Investors sentiment decreased to 1.11 in Q3 2017. Its down 0.18, from 1.29 in 2017Q2. It dropped, as 22 investors sold Progenics Pharmaceuticals, Inc. shares while 34 reduced holdings. 16 funds opened positions while 46 raised stakes. 58.90 million shares or 4.84% less from 61.90 million shares in 2017Q2 were reported.
Public Sector Pension Invest Board reported 44,457 shares. Vanguard Grp Inc holds 0% or 4.37M shares in its portfolio. Horizon Kinetics Limited Company reported 0.01% in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX). Blackrock holds 0% or 9.79 million shares in its portfolio. Wells Fargo Comm Mn reported 208,816 shares. Fisher Asset Mngmt Lc stated it has 0% of its portfolio in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX). Cwm Lc invested in 33 shares or 0% of the stock. Meeder Asset Mngmt Incorporated owns 745 shares or 0% of their US portfolio. Ubs Asset Mngmt Americas holds 0% or 39,549 shares. Assetmark holds 200 shares. Moreover, First Republic Inv Management has 0% invested in Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX). Pnc Financial Services Grp reported 392 shares. Hall Laurie J Trustee invested in 0% or 920 shares. Principal Finance Grp Inc Inc accumulated 588,754 shares. Ameritas Inv Prns stated it has 5,871 shares.

The chart of Progenics Pharmaceuticals, Inc. (PGNX) shows a double bottom with $5.49 target or 5.00 % below today’s $5.78 share price. The 5 months chart pattern indicates high risk for the $406.16M company. It was reported on Feb, 15 by Finviz.com. If the $5.49 price target is reached, the company will be worth $20.31M less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.05% or $0.06 during the last trading session, reaching $5.78. About 432,892 shares traded. Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) has risen 48.41% since February 15, 2017 and is uptrending. It has outperformed by 31.71% the S&P500.

Analysts await Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) to report earnings on March, 8. They expect $-0.21 EPS, down 110.00 % or $0.11 from last year’s $-0.1 per share. After $-0.22 actual EPS reported by Progenics Pharmaceuticals, Inc. for the previous quarter, Wall Street now forecasts -4.55 % EPS growth.

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) Ratings Coverage

Among 5 analysts covering Progenics Pharm (NASDAQ:PGNX), 5 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Progenics Pharm had 11 analyst reports since August 6, 2015 according to SRatingsIntel. Jefferies maintained the shares of PGNX in report on Thursday, June 8 with “Buy” rating. The rating was upgraded by Needham on Monday, February 6 to “Strong Buy”. The firm earned “Buy” rating on Wednesday, August 9 by Cantor Fitzgerald. The firm earned “Buy” rating on Friday, August 7 by Needham. The firm has “Buy” rating by Aegis Capital given on Thursday, October 27. Jefferies upgraded the shares of PGNX in report on Friday, October 23 to “Buy” rating. The firm has “Buy” rating by Brean Capital given on Thursday, August 6. The firm has “Buy” rating given on Friday, August 7 by Zacks. On Tuesday, September 26 the stock rating was maintained by Jefferies with “Buy”. The company was maintained on Tuesday, June 20 by Needham.

More recent Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) news were published by: Seekingalpha.com which released: “Progenics: Is The SPA Limited To 2 Doses?” on January 24, 2018. Also Seekingalpha.com published the news titled: “Progenics Pharmaceuticals: An Underappreciated Company You Can’t Afford To Ignore” on January 18, 2018. Globenewswire.com‘s news article titled: “Progenics Pharmaceuticals Announces Presentation of AZEDRA® (iobenguane I 131 …” with publication date: February 01, 2018 was also an interesting one.

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