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TMCNet:  Hot Stock: Progenics Pharmaceuticals, Shares Gain 6.6% (PGNX)

[October 11, 2012]

Hot Stock: Progenics Pharmaceuticals, Shares Gain 6.6% (PGNX)

Oct 11, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Progenics Pharmaceuticals (NASDAQ:PGNX) is one of today's best performing low-priced stocks, up 6.6% to $2.79 on 1.1x average daily volume. Progenics Pharmaceuticals has traded 289,000 shares thus far today, vs. average volume of 265,000 shares per day. The stock has outperformed the Dow (6.6% to the Dow's 0.2%) and outperformed the S&P 500 (6.6% to the S&P's 0.4%) during today's trading.

Progenics Pharmaceuticals has overhead space with shares priced $2.79, or 69.0% below the average consensus analyst price target of $9.00. The stock should find initial resistance at its 50-day moving average (MA) of $3.79 and further resistance at its 200-day MA of $7.99.

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 share prices have moved between a 52-week high of $11.34 and a 52-week low of $2.38 and are now trading 17% above that low price at $2.79 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 9% while the 200-day MA has slid 1.1%.

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 55.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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 http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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