Pfenex Inc (NYSEMKT:PFNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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. “

Several other research analysts have also commented on the stock. William Blair restated an “outperform” rating on shares of Pfenex in a research note on Monday, June 26th. ValuEngine lowered shares of Pfenex from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.25.

Pfenex (NYSEMKT PFNX) traded up 3.93% during mid-day trading on Friday, reaching $4.50. 200,519 shares of the company’s stock traded hands. The company has a 50-day moving average of $4.44 and a 200-day moving average of $6.41. Pfenex has a 52-week low of $3.91 and a 52-week high of $11.35. The company has a market capitalization of $105.55 million, a price-to-earnings ratio of 29.41 and a beta of 4.65.

Pfenex (NYSEMKT:PFNX) last released its earnings results on Monday, May 8th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.14. Pfenex had a negative net margin of 356.00% and a negative return on equity of 53.20%. The company had revenue of $2.80 million during the quarter, compared to the consensus estimate of $2.50 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. The company’s revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect that Pfenex will post ($1.95) EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This report was published by American Banking News and is the property of of American Banking News. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://www.americanbankingnews.com/2017/07/15/pfenex-inc-pfnx-rating-lowered-to-hold-at-zacks-investment-research.html.

In other Pfenex news, Director Jason Grenfell-Gardner acquired 10,000 shares of Pfenex stock in a transaction dated Monday, June 12th. The stock was bought at an average cost of $4.51 per share, with a total value of $45,100.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $45,100. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

A number of institutional investors have recently made changes to their positions in PFNX. Norges Bank bought a new stake in Pfenex during the fourth quarter valued at $961,000. Algert Global LLC boosted its stake in Pfenex by 207.3% in the first quarter. Algert Global LLC now owns 34,603 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 23,344 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in Pfenex during the first quarter valued at $1,759,000. Blair William & Co. IL boosted its stake in Pfenex by 1.5% in the first quarter. Blair William & Co. IL now owns 219,709 shares of the biotechnology company’s stock valued at $1,588,000 after buying an additional 3,325 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Pfenex by 4.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 165,943 shares of the biotechnology company’s stock valued at $1,505,000 after buying an additional 6,309 shares during the last quarter.

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).

Get a free copy of the Zacks research report on Pfenex (PFNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Pfenex Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfenex Inc and related companies with MarketBeat.com's FREE daily email newsletter.