NEW YORK ( TheStreet) -- Shares of Progenics Pharmaceuticals (Nasdaq: PGNX) have taken a tremendous swing upward. The stock is trading at $6.72 as of 4 p.m. ET, 20.9% above Tuesday's closing price of $5.56. Volume is at 276,304, 2.5 times the daily average of 111,300.

Progenics has a market cap of $169.8 million and is part of the health care sector and drugs industry. Shares are up 1.8% year to date as of the close of trading on Tuesday.

Progenics Pharmaceuticals, Inc., a biopharmaceutical company, engages in the development and commercialization of therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases in the United States and internationally. The company has a P/E ratio of 91.7, below the average drugs industry P/E ratio of 125.8 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Progenics as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and solid stock price performance. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Progenics Ratings Report.

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