Progenics: Unloved And Undervalued ~$5 Biotech Stock [Seeking Alpha]
PROGENICS PHARMACEUTICALS (PGNX)
Last progenics pharmaceuticals earnings: 8/9 07:30 am
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US:NASDAQ Investor Relations:
progenics.com
Company Research
Source: Seeking Alpha
Summary "Walk free from the long shadows cast by small people." - Fennel Hudson I am getting a lot of questions around Progenics Pharmaceuticals ( PGNX ) this week. The company reported earnings Wednesday. Numbers missed the consensus on the top and bottom lines. Investors/trading programs then oversold the shares down to $4.60 a share at one point in trading Wednesday, before calmer heads came in to boost them back over $5.30 a share to begin trading on Friday (Disclaimer: I added 25% to my core holdings of PGNX at $4.95 a share Wednesday). The stock has now given up the 120% post-election rally through late March of this year. Most of this is due to disappointment about relistor sales, an overhang caused by having Valeant Pharmaceuticals (NYSE: VRX ) as a distribution and marketing partner for that GI compound and most importantly, too much pessimism about the approval chances of Azedra. This feels very much like the situation in Dynavax Technologies ( DVAX
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