Pfenex Inc. (NYSEAMERICAN:PFNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Pfenex Inc. is a clinical-stage biotechnology company developing and commercializing proteins. The company’s lead product candidate is PF582, a biosimilar candidate to Lucentis, for the potential treatment of patients with retinal diseases. It leverages its Pf?nex Expression Technology (TM) platform to build a pipeline of product candidates and preclinical products under development including other biosimilars, as well as vaccines, generics and next generation biologics. Pfenex Inc. is headquartered in San Diego, California. “
PFNX has been the topic of a number of other research reports. William Blair restated an “ourperform” rating on shares of Pfenex in a research note on Friday, September 8th. ValuEngine cut Pfenex from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, JMP Securities decreased their price objective on Pfenex from $21.00 to $8.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $5.50.
Pfenex (NYSEAMERICAN:PFNX) traded up $0.13 during trading on Wednesday, hitting $2.78. The stock had a trading volume of 127,800 shares, compared to its average volume of 116,785. Pfenex has a 52 week low of $2.54 and a 52 week high of $10.55.
Pfenex (NYSEAMERICAN:PFNX) last issued its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.37) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.17. Pfenex had a negative return on equity of 63.57% and a negative net margin of 175.52%. The business had revenue of $5.02 million during the quarter, compared to analyst estimates of $3.30 million. During the same period in the previous year, the firm earned $1.46 EPS. Pfenex’s quarterly revenue was down 89.7% compared to the same quarter last year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanders Morris Harris LLC boosted its stake in Pfenex by 33.9% in the third quarter. Sanders Morris Harris LLC now owns 998,151 shares of the biotechnology company’s stock valued at $3,015,000 after buying an additional 252,464 shares in the last quarter. C WorldWide Group Holding A S bought a new position in Pfenex in the second quarter valued at about $984,000. AJO LP bought a new position in Pfenex in the second quarter valued at about $946,000. Municipal Employees Retirement System of Michigan bought a new position in Pfenex in the second quarter valued at about $926,000. Finally, Renaissance Technologies LLC raised its position in Pfenex by 148.5% in the first quarter. Renaissance Technologies LLC now owns 325,800 shares of the biotechnology company’s stock valued at $1,893,000 after purchasing an additional 194,700 shares during the last quarter.
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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