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Downgrade Alert for Progenics Pharmaceuticals (PGNX)
[November 09, 2012]

Downgrade Alert for Progenics Pharmaceuticals (PGNX)

Nov 09, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Progenics Pharmaceuticals (NASDAQ:PGNX) was downgraded from Buy to Hold at Brean Capital today. The stock closed yesterday at $1.99 on volume of 585,000 shares, above average daily volume of 234,000. Over the past year, Progenics Pharmaceuticals has traded in a range of $1.96 to $11.34 and closed yesterday at $1.99, 2% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 2.4%.

Progenics Pharmaceuticals, Inc. is a biopharmaceutical company. The Company develops and distributes therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases. Progenics' principal programs are directed toward supportive care, virology (human immunodeficiency virus and hepatitis C virus infections), and oncology.

Progenics Pharmaceuticals (NASDAQ:PGNX) has potential upside of 536.5% based on a current price of $1.99 and analysts' consensus price target of $12.67. Progenics Pharmaceuticals shares should first meet resistance at the 50-day moving average (MA) of $3.28 and find additional resistance at the 200-day MA of $7.50.

SmarTrend recommended that its subscribers protect gains by selling shares of Progenics Pharmaceuticals on July 30th, 2012 by issuing a Downtrend alert when the shares were trading at $5.90. Since that call, shares of Progenics Pharmaceuticals have fallen 66.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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