Progenics Pharmaceuticals, Inc. Beats Q4 Expectations

Progenics Pharmaceuticals, Inc. Beats Q4 Expectations

Progenics Pharmaceuticals, Inc. Beats Q4 Expectations

Progenics Pharmaceuticals, Inc. (NASDAQ: PGNX) saw its shares rise about 3.21 percent in Monday trading. Better earnings results were posted by the company, beating expectations for the fourth quarter of 2012. The company also posted higher than expected revenues in the quarter, causing investors to trade 2.05 million shares of the company’s stock. Progenics Pharmaceuticals, Inc. which is based in Tarrytown, New York, is a biopharmaceutical company. The company’s business focuses on the development of cures in the area of oncology, virology, supportive care and gastroenterology. The company has a market capitalization of $152.62 million, and reported resulting revenues in the quarter ending December 31 of $8.88 million. These revenues were around 300 percent higher than what the company reported for the same quarter December 31, 2011. The company’s earnings per share were down $0.01, better than what analysts had predicted; minus $0.32 per share.

Competitor Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP) closed at $5.38, up 3.26 percent. The company has a market capitalization $223.31 million and is trading significantly below its 52 week high of $8.50. SCMP opened Friday at $5.17 and traded between $5.09 and $5.42 before closing at $5.38. 212,500 shares of Sucampo Pharmaceuticals, Inc. were traded during the session. Bethesda, Maryland based Sucampo is a biopharmaceutical company that develops drugs for the treatment of gastrointestinal, respiratory, vascular and central nervous system diseases and disorders. Sucampo Pharmaceuticals, Inc. had net income of $13.53 million on revenues of $34.86 posted in the fourth quarter of 2012, ending December 31. The company reported diluted earnings per share in the quarter of $0.32 per share.

Synergy Pharmaceuticals, Inc. (NASDAQ: SGYP) shares closed at $5.94, down 0.67 percent. The company has a market capitalization of $392.67 million. It reported net income for the quarter ending September 30, 2012 of negative $9.89 million. The company posted no revenues in the quarter. Trading volume for Synergy for the session was 0.127 million shares. Synergy Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development of drugs that treat gastrointestinal disorders and diseases. The company is based in New York City. The company’s stock is trading below its 52 week high of $7.08, having opened trading for the session at $5.95.

Improvements in the financials for Progenics Pharmaceuticals, Inc. have caused shares to trade up by 3.21 percent, closing at $4.50.

Related News

  • DanSlone

    The extremely low revenue numbers for Progenics make it a little risky for my taste right now. Likewise, the lack of revenue for the quarter for Synergy is not particularly encouraging. However, I really like Sucampo’s margins on its revenue. If it can maintain this performance, it will be a tremendously valuable buy.

    • konraad

      I agree, but with its share price at around $3, it is so tempting to buy. For risk takers, perhaps this is the best time to enter this stock.

  • konraad

    The pharma industry is too crowded, with too many players competing for limited customers. I wonder if some of these companies will be in existence in the next decade, especially now that the federal government is getting tough on spending.

    • lyieke

      Although pharma is crowded, there is still a lot of wiggle room. New diseases, and more so cancers, keep coming up. Growth is next to inevitable.