Needham & Company Upgrades Progenics Pharmaceuticals (PGNX) to Buy on Positive PSMA Data at ASCO-GU

February 3, 2014 6:01 AM EST
Get Alerts PGNX Hot Sheet
Price: $4.10 --0%

Rating Summary:
    8 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 22 | Down: 13 | New: 31
Trade Now! 
Join SI Premium – FREE
Needham & Company upgraded Progenics Pharmaceuticals (NASDAQ: PGNX) from Hold to Buy with a price target of $8 following positive data at ASCO-GU.

"Progenics presented positive data from two Phase II studies at ASCO-GU, including one from a PSMA-ADC therapeutics agent and a PSMA imaging agent," analyst Chad Messer, Ph.D. comments. "We believe that these data validate the company's strategy of refocusing resources on cancer and making a big investment in the novel prostate cancer target PSMA. In particular, we believe the imaging agent could progress rapidly into Phase III testing and become a near-term value driver for PGNX shares."

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 $4.78 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Hot Upgrades, Upgrades

Related Entities

Needham & Company