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Stock to Watch: Progenics Pharmaceuticals Down 15.6% (PGNX)
[November 09, 2012]

Stock to Watch: Progenics Pharmaceuticals Down 15.6% (PGNX)

Nov 09, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Progenics Pharmaceuticals (NASDAQ:PGNX) is one of today's worst performing low-priced stocks, down 15.6% to $1.68 on 1.6x average daily volume. Progenics Pharmaceuticals has traded 375,000 shares thus far today, vs. average volume of 234,000 shares per day. The stock has underperformed the Dow (-15.6% to the Dow's 0.1%) and underperformed the S&P 500 (-15.6% to the S&P's 0.4%) during today's trading.

In the past 52 weeks, shares of Progenics Pharmaceuticals have traded between the current low of $1.63 and a high of $11.34 and are now at $1.68. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.4% while the 200-day MA has slid 1.2%.

Progenics Pharmaceuticals has overhead space with shares priced $1.68, or 86.7% below the average consensus analyst price target of $12.67. The stock should find initial resistance at its 50-day moving average (MA) of $3.28 and further resistance at its 200-day MA of $7.50.

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.

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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