3 Falling Stocks: Progenics Pharmaceuticals Inc. (PGNX), Willbros Group Inc (WG), And Gastar Exploration Inc (GST)
New York, NY – GDP INSIDER – 01/06/2014.
Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) knows how to play its game and its efforts are rewarding. The company develops drug candidates that it licenses out and earns milestones and royalties from the same. It is currently actively working a prostate cancer therapy, whose Phase 2 trial data it recently shared at an annual event in Chicago.
According to Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX), the therapy known
as 1404 is designed for prostate cancer imaging, to support better detection, staging and treatment planning. Prostate cancer is one of the leading cancer killers among men in the U.S., where new prostate cancer cases are also on the rise.
For prostate cancer patients, Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) is developing a therapy that could help improve their lives. As for the investors, the company is working on a product that could significantly boost its revenue. The company tapped $40 million in milestone payment from Salix Pharmaceuticals, Inc. (NASDAQ:SLXP). The milestone was triggered by the approval of its drug Relistor for an additional indication. Progenics stands to gain more from the sale of the drug in the U.S. and other markets.
Willbros Group Inc (NYSE:WG)’s exposure to the troubled oil and gas industry does not come as a benefit to the stock. Analysts cite that there are a number of headwinds for the company in 2015, which could hurt revenue, earnings, and share price.
According to analysts at Stifel, Willbros Group Inc (NYSE:WG) is no longer a “Buy” candidate but a “Hold”. The analysts not only downgraded the stock but also dropped their $6.50 target price on it. As concerns the target price, they cited that shares of Willbros Group had recovered from recent declines thereby reducing upside potential in the price.
Willbros Group Inc (NYSE:WG) suffered a loss of $0.06 per share and generated revenue of $559.7 million in the
recent quarter. Loss narrowed from the same quarter last year as revenue edged up over the same period.
Could WG Continue To Fall Or Will We Find Support In The Near Future? See What Is In The Cards For WG With A Complementary Trend Analysis.
WG With A Complementary Trend Analysis.
Gastar Exploration Inc (NYSEMKT:GST) declared that the legal challenge to its operations in West Virginia has been resolved. In the latest move, a judge in West Virginia dismissed the claims of Eagle Natrium LLC that sought to stop Gastar from undertaking fracturing activities in the Marcellus Shale.
Eagle had brought a pair of lawsuits against Gastar Exploration Inc (NYSEMKT:GST), with the latest decision concerning the second part of the suits. The first suit was dismissed less than a week ago. The developments now clear the way for Gastar in the Marcellus Shale.
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