Pfenex’s Quiet Period Will End Tomorrow (NASDAQ:PFNX)
Pfenex’s (NASDAQ:PFNX) quiet period will end on Tuesday, September 2nd. Pfenex had issued 8,333,333 shares in its IPO on July 24th, Analyst Ratings News reports. The total size of the offering was $49,999,998 based on an initial share price of $6.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
A number of analysts have recently weighed in on PFNX shares. Analysts at JMP Securities initiated coverage on shares of Pfenex in a research note on Monday, August 18th. They set an “outperform” rating and a $15.00 price target on the stock. Separately, analysts at William Blair initiated coverage on shares of Pfenex in a research note on Monday, August 18th. They set an “outperform” rating and a $4.30 price target on the stock. Finally, analysts at Mizuho initiated coverage on shares of Pfenex in a research note on Monday, August 18th. They set a “buy” rating and a $12.00 price target on the stock.
Shares of Pfenex (NASDAQ:PFNX) traded up 4.03% during mid-day trading on Monday, hitting $6.45. The stock had a trading volume of 13,849 shares. Pfenex has a one year low of $5.28 and a one year high of $6.59. The stock has a 50-day moving average of $6.12 and a 200-day moving average of $6.12. The company’s market cap is $124.1 million.
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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