Shares of Progenity, Inc. (NASDAQ:PROG) have received a consensus recommendation of "Hold" from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $3.25.
Several research analysts have recently commented on PROG shares. HC Wainwright initiated coverage on shares of Progenity in a report on Thursday, October 14th. They set a "buy" rating and a $4.00 target price on the stock. Stephens cut shares of Progenity from an "overweight" rating to an "equal weight" rating in a report on Thursday, November 4th. Finally, Zacks Investment Research cut shares of Progenity from a "buy" rating to a "hold" rating in a report on Wednesday.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boothbay Fund Management LLC purchased a new position in Progenity in the 2nd quarter valued at approximately $36,000. LPL Financial LLC purchased a new stake in shares of Progenity in the second quarter worth about $39,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Progenity in the second quarter worth about $53,000. Eagle Asset Management Inc. bought a new position in shares of Progenity in the second quarter valued at approximately $56,000. Finally, Parametric Portfolio Associates LLC bought a new stake in Progenity during the 2nd quarter worth approximately $62,000. Institutional investors own 77.74% of the company's stock.
Progenity stock opened at $1.69 on Friday. The stock has a market cap of $276.74 million, a price-to-earnings ratio of -0.45 and a beta of -0.05. Progenity has a 12-month low of $0.66 and a 12-month high of $7.86. The business's 50-day simple moving average is $2.80 and its 200 day simple moving average is $2.29.
Progenity (NASDAQ:PROG) last announced its earnings results on Wednesday, November 10th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.01. The company had revenue of $0.18 million for the quarter, compared to analyst estimates of $11.10 million. During the same quarter last year, the business posted ($1.01) earnings per share. Research analysts predict that Progenity will post -1.19 earnings per share for the current fiscal year.
Progenity Company Profile
Progenity, Inc, a biotechnology company, provides develops and commercializes molecular testing products in the United States. It offers Innatal, a noninvasive prenatal screening test offered to women early in pregnancy to screen for chromosome abnormalities, such as down syndrome, trisomy 18, trisomy 13, and sex chromosome disorders through the analysis of cell-free DNA; Preparent that screens for carrier status of hereditary diseases prior to or early in pregnancy; and Riscover, a hereditary cancer screen that analyzes 31 genes associated with inherited risk of 12 types of cancers, including the BRCA1/2 genes for hereditary breast, ovarian, colorectal, endometrial, pancreatic, and other cancer syndromes, as well as for the five genes associated with Lynch syndrome.
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