Needham & Company Upgrades Progenics Pharmaceuticals (PGNX) to Strong Buy

Needham & Company upgraded Progenics Pharmaceuticals (NASDAQ: PGNX) from Buy to Strong Buy with a price target of $14.00 (from $11.00).

Analyst Chad Messer commented, "We recently chose PGNX as our Top Pick for 2017 and are now going one step further and upgrading it to Strong Buy. We continue to expect significant appreciation in shares this year as the company launches its first wholly owned product and moves rapidly toward profitability. Our increased $14 price target reflects the introduction of estimates for the 1404 imaging agent, which recently passed an interim analysis in its pivotal trial."

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 $9.49 yesterday.

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