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Progencis Pharmaceuticals(PGNX - Get Report) is a biopharmaceutical company focusing on the development and commercialization of therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases. This stock is trading up 2.8% at $8.73 in recent trading after hitting a 52-week high of $9.12 earlier in the day.
Today's Range: $8.22-$9.12
52-Week Range: $4.50-$8.69
Three-Month Average Volume: 163,611
Progenics Pharmaceuticals has a market cap of $296.43 million and an enterprise value of $208.65 million. The stock trades at a trailing price-to-earnings of 122.08. Its estimated growth rate for this year is 115.9% and for next year it's pegged at -129.4%. The current short interest as a percentage of the float for Genomic Health sits at 4.3%.
From a technical standpoint, PGNX recently gapped up and broke out above some near-term overhead resistance at $7.70 and $7.93 a share on monster volume. Volume on the breakout day hit over 2 million shares, which is well above its three-month average volume of just 163,611 shares.
The stock has now
started to breakout again above $8.69 a share on strong volume. Market players should continue to look for long biases trades in PGNX as long as the stock can sustain a move and close above $8.69.