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Analysts at William Blair initiated coverage on shares of Pfenex (NASDAQ:PFNX) in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating on the stock.

Shares of Pfenex (NASDAQ:PFNX) opened at 6.50 on Monday. Pfenex has a 1-year low of $5.28 and a 1-year high of $6.57. The stock has a 50-day moving average of $6.00 and a 200-day moving average of $6.00. The company’s market cap is $125.0 million.

Separately, analysts at Mizuho initiated coverage on shares of Pfenex in a research note on Monday. They set a “buy” rating and a $12.00 price target on the stock.

Pfenex Inc is a clinical-stage biotechnology company. The Company engaged in the development of difficult to manufacture and proteins, initially focused on biosimilar therapeutics (NASDAQ:PFNX).

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