Needham Upgrades Progenics Pharma (PGNX) to Buy

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December 20, 2011 3:20 PM EST
Get Alerts PGNX Hot Sheet
Price: $4.10 --0%

Rating Summary:
    8 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 15 | New: 12
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Needham & Company's Alan Carr upgraded shares of Progenics Pharmaceuticals (NASDAQ: PGNX) from Hold to Buy. The firm set a new price target of $10.

Shares of Progenics are up more than 31 percent Tuesday afternoon following positive results in a Phase 3 trial of oral methylnaltrexone for chronic, non-cancer pain with opioid-induced constipation. The stock ticked higher over the $8 level as the Needham upgrade began hitting wires.

With the stock last trading around $8.54, Needham's new price target implies potential upside of about 17 percent.

For an analyst ratings summary and ratings history on Progenics Pharmaceuticals click here. For more ratings news on Progenics Pharmaceuticals click here.

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