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TMCNet:  Traders Get Bullish on Shares of Progenics Pharmaceuticals, Shares Up 7.6% (PGNX)

[November 16, 2012]

Traders Get Bullish on Shares of Progenics Pharmaceuticals, Shares Up 7.6% (PGNX)

Nov 16, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Progenics Pharmaceuticals (NASDAQ:PGNX) is one of today's best performing low-priced stocks, up 7.6% to $1.83 on 1.0x average daily volume. Progenics Pharmaceuticals has traded 238,000 shares thus far today, vs. average volume of 234,000 shares per day. The stock has outperformed the Dow (7.6% to the Dow's 0.1%) and outperformed the S&P 500 (7.6% to the S&P's 0.2%) during today's trading.

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 592.2% based on a current price of $1.83 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.

Over the past year, Progenics Pharmaceuticals has traded in a range of $1.41 to $11.34 and is now at $1.83, 30% above that low. The 200-day and 50-day moving averages have moved 1.24% lower and 2.4% lower over the past week, respectively.

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 71.2%. 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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