Trade-Ideas LLC identified

Progenics Pharmaceuticals

(

PGNX

) as a pre-market mover with heavy 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 $11.6 million.
  • PGNX traded 213,121 shares today in the pre-market hours as of 7:35 AM, representing 10.9% of its average daily volume.

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More details on PGNX:

Progenics Pharmaceuticals, Inc. develops medicines for oncology in the United States and internationally. 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 940,300 shares per day over the past 30 days. Progenics has a market cap of $356.7 million and is part of the health care sector and drugs industry. The stock has a beta of 2.60 and a short float of 18.2% with 4.31 days to cover. Shares are down 11.9% year-to-date as of the close of trading on Monday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Progenics Pharmaceuticals as a

sell

. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

Highlights from the ratings report include:

  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Biotechnology industry. The net income has decreased by 23.4% when compared to the same quarter one year ago, dropping from -$10.25 million to -$12.66 million.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Biotechnology industry and the overall market, PROGENICS PHARMACEUTICAL INC's return on equity significantly trails that of both the industry average and the S&P 500.
  • Looking at the price performance of PGNX's shares over the past 12 months, there is not much good news to report: the stock is down 40.23%, and it has underformed the S&P 500 Index. In addition, the company's earnings per share are lower today than the year-earlier quarter. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it could be one of the factors that may help make the stock attractive down the road. Right now, however, we believe that it is too soon to buy.
  • PROGENICS PHARMACEUTICAL INC's earnings per share declined by 20.0% in the most recent quarter compared to the same quarter a year ago. The company has reported a trend of declining earnings per share over the past year. However, the consensus estimate suggests that this trend should reverse in the coming year. During the past fiscal year, PROGENICS PHARMACEUTICAL INC swung to a loss, reporting -$0.56 versus $0.01 in the prior year. This year, the market expects an improvement in earnings ($0.12 versus -$0.56).
  • Net operating cash flow has increased to -$7.97 million or 26.78% when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 11.71%.

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