Biotech Dan
Long/short equity, momentum, event-driven, biotech

Bear Raid On Progenics Pharmaceuticals Provides Opportune Buy

Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) has been making headlines and is likely well known at this point for its recent drastic depreciation of share price. Within the past trading week alone, shares of PGNX have decreased over 25% to end up in the mid to high $4 range. My goal within this article is to provide a fair insight as to why this current level might be a great opportunity to invest within this company.

PGNX was sitting at a 52 week high only two weeks ago, where it peaked at $7.45. A series of recent events, deemed negative, have since dropped the price to the current level. The reasons why I believe the bears got it wrong, and...

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