Progenics Pharma (PGNX): Raising PT - Jefferies

October 17, 2016 8:04 AM EDT
Get Alerts PGNX Hot Sheet
Price: $5.15 -0.77%

Rating Summary:
    4 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 7
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Jefferies analyst, Gena Wang, reiterated her Buy rating on shares of Progenics Pharmaceuticals (NASDAQ: PGNX) and raised her price target to $10 from $9.

Despite the ~5x price, the analyst believes oral Relistor enjoys parity access to Movantik with some payers. The analyst performed proprietary research by speaking with KOLs and found that these experts "consider both products to be clinically similar", and IMS prescription trends for first 6 weeks suggest comparable uptake.

Although the long term launch trajectory remains to be seen, the analyst raised her PT to $10 to reflect updated launch assumptions.

For an analyst ratings summary and ratings history on Progenics Pharmaceuticals click here. For more ratings news on Progenics Pharmaceuticals click here.

Shares of Progenics Pharmaceuticals closed at $5.91 yesterday.

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