Progenics Pharmaceuticals (PGNX)

Well finally we get to talk about individual stocks. Progenics pharmaceuticals is a stock that currently we have in our covered call portfolio. Below is a brief description of the financial fundamentals for Progenics, as well as some current analyst recommendations , and a brief description of the company. Before we get into that detail, we want to state that all trading carries with it a risk. Please do not risk any funds that you cannot afford to loose.

Progenics Pharmaceuticals, Inc. (Progenics) is a biopharmaceutical company focusing on the development and commercialization of therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases. Its principal programs are directed toward gastroenterology, virology and oncology. In the area of gastroenterology, ProgenicsGÇÖ work is focused on methylnaltrexone, which is its most advanced product candidate. In the area of virology, the Company is developing viral-entry inhibitors. Progenics is developing immunotherapies for prostate cancer, including monoclonal antibodies directed against prostate specific membrane antigen (PSMA), a protein found on the surface of prostate cancer cells. Its PSMA programs are conducted through PSMA Development Company LLC (PSMA LLC). On April 20, 2006, the Company acquired Cytogen CorporationGÇÖs 50% membership interest in PSMA LLC. As a result, PSMA LLC became a wholly owned subsidiary of Progenics.

Progenics Pharmaceuticals Inc: Stock Rating Detail
6 (10 being the best)
The grades below summarize the effects of key business and trading trends on this stock.
FundamentalGrade: D
•The most recent quarterly earnings report was significantly lower than analysts' consensus forecast. Negative
•Earnings growth in the past year has accelerated moderately compared to earnings growth in the past three years. Positive
•One or more analysts has modestly decreased quarterly earnings estimates for PGNX. Negative
OwnershipGrade: C
•An executive, director or major shareholder sold a small number of shares recently. Neutral
•Shares are under heavy accumulation by financial institutions. Positive for a small company like PGNX
ValuationGrade: B
•The price-to-earnings multiple is a negative number. No effect
•The price-to-sales multiple is significantly higher than the average for all stocks in the StockScouter universe. Negative for a small company like PGNX
•The ratio of PGNX's price-to-earnings multiple to its five-year growth rate is unavailable or inconsistent.
TechnicalGrade: D
•The StockScouter measure of relative price change and consistency is low. Negative
•Previous day's closing price for PGNX was slightly below its 50-day moving average. Negative



Progenics Pharmaceuticals Inc: Analyst Ratings
Average brokerage recommendation is Moderate Buy.


Our current play is a stock purchase at 16.55. While selling a 17.50 option for 3.50. That gives you a return of 21.1%. If you want to do a hedge wrapper then add a purchase of a 12.50 put to net out to a 10.9% return. These are for the March options that will expire 45 days from today.

Tomorrow we will look at another good potential covered call stock.