Pfenex Inc (NYSEMKT:PFNX) Given “Ourperform” Rating at William Blair

Pfenex Inc (NYSEMKT:PFNX)‘s stock had its “ourperform” rating reaffirmed by investment analysts at William Blair in a research report issued to clients and investors on Friday, September 8th.

PFNX has been the subject of several other research reports. ValuEngine downgraded shares of Pfenex from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Pfenex from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research report on Thursday, July 13th.

Pfenex (NYSEMKT:PFNX) traded down 10.61% on Friday, reaching $2.95. The company had a trading volume of 89,830 shares. Pfenex has a 12-month low of $2.95 and a 12-month high of $11.35. The stock has a market capitalization of $69.41 million, a PE ratio of 47.58 and a beta of 4.65. The stock’s 50 day moving average price is $3.69 and its 200-day moving average price is $4.68.

Pfenex (NYSEMKT:PFNX) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.06). Pfenex had a negative net margin of 406.87% and a negative return on equity of 75.61%. The business had revenue of $3.03 million during the quarter, compared to analysts’ expectations of $3.10 million. During the same quarter last year, the company earned ($0.43) EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts expect that Pfenex will post ($2.09) earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in PFNX. Strs Ohio raised its position in Pfenex by 69.7% during the 1st quarter. Strs Ohio now owns 99,800 shares of the biotechnology company’s stock worth $579,000 after buying an additional 41,000 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Pfenex by 221.0% during the 1st quarter. Russell Investments Group Ltd. now owns 32,186 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 22,160 shares during the period. Algert Global LLC grew its stake in shares of Pfenex by 207.3% during the 1st quarter. Algert Global LLC now owns 34,603 shares of the biotechnology company’s stock worth $201,000 after purchasing an additional 23,344 shares during the period. TFS Capital LLC grew its stake in shares of Pfenex by 101.1% during the 1st quarter. TFS Capital LLC now owns 97,093 shares of the biotechnology company’s stock worth $564,000 after purchasing an additional 48,805 shares during the period. Finally, Nine Chapters Capital Management LLC acquired a new position in shares of Pfenex during the 1st quarter worth $265,000.

Pfenex Company Profile

Pfenex Inc is a clinical-stage biotechnology company. The Company is engaged in the development of biosimilar and therapeutic equivalent products to branded therapeutics and other high-value and difficult-to-manufacture proteins. Its lead product candidate is PF582, a biosimilar candidate to Lucentis (ranibizumab).

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