NEW YORK ( TheStreet) -- Shares of Progenics Pharmaceuticals (Nasdaq: PGNX) have taken a tremendous swing upward. The stock is trading at $8.35 as of 9:30 a.m. ET, 28.8% above Monday's closing price of $6.48. Volume is at 51,302, 0.4 times the daily average of 131,100.

Progenics has a market cap of $221.8 million and is part of the health care sector and drugs industry. Shares are up 18.7% year to date as of the close of trading on Monday.

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 109.5, below the average drugs industry P/E ratio of 164.3 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, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. 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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