Strong On High Relative Volume: Progenics Pharmaceuticals (PGNX)
Trade-Ideas LLC identified
(
) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Progenics Pharmaceuticals as such a stock due to the following factors:
- PGNX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $8.9 million.
- PGNX has traded 154,561 shares today.
- PGNX is trading at 5.34 times the normal volume for the stock at this time of day.
- PGNX is trading at a new high 3.09% above yesterday's close.
'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
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More details on PGNX:
Progenics Pharmaceuticals, Inc. develops medicines for oncology in the United States and internationally. PGNX has a PE ratio of 147. Currently there are 2 analysts that rate Progenics Pharmaceuticals a buy, no analysts rate it a sell, and none rate it a hold.
The average volume for Progenics Pharmaceuticals has been 1.0 million shares per day over the past 30 days. Progenics has a market cap of $511.5 million and is part of the health care sector and drugs industry. The stock has a beta of 2.76 and a short float of 28.5% with 11.75 days to cover. Shares are up 2.6% year-to-date as of the close of trading on Monday.
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Analysis:
rates Progenics Pharmaceuticals as a
. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and weak operating cash flow.
Highlights from the ratings report include:
- The revenue growth came in higher than the industry average of 5.2%. Since the same quarter one year prior, revenues rose by 31.1%. This growth in revenue does not appear to have trickled down to the company's bottom line, displaying stagnant earnings per share.
- PGNX has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 15.19, which clearly demonstrates the ability to cover short-term cash needs.
- PROGENICS PHARMACEUTICAL INC reported flat earnings per share in the most recent quarter. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings in the coming year. During the past fiscal year, PROGENICS PHARMACEUTICAL INC turned its bottom line around by earning $0.01 versus -$0.77 in the prior year. For the next year, the market is expecting a contraction of 5650.0% in earnings (-$0.56 versus $0.01).
- Net operating cash flow has declined marginally to -$9.01 million or 3.99% when compared to the same quarter last year. Despite a decrease in cash flow of 3.99%, PROGENICS PHARMACEUTICAL INC is still significantly exceeding the industry average of -79.03%.
- The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed compared to the Biotechnology industry average, but is greater than that of the S&P 500. The net income has decreased by 5.6% when compared to the same quarter one year ago, dropping from -$11.07 million to -$11.70 million.
- You can view the full Progenics Pharmaceuticals Ratings Report.
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