Pfenex Inc (PFNX) Rating Lowered to Hold at Zacks Investment Research
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.
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).
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