ValuEngine lowered shares of Pfenex Inc (NYSEMKT:PFNX) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning.

Several other analysts have also recently issued reports on PFNX. Zacks Investment Research raised shares of Pfenex from a strong sell rating to a hold rating in a research report on Saturday, August 26th. William Blair reissued an outperform rating on shares of Pfenex in a research report on Thursday, August 10th.

Pfenex (NYSEMKT PFNX) traded down 2.49% on Friday, reaching $3.52. 30,916 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $4.03 and a 200-day moving average of $4.95. The stock has a market cap of $82.82 million, a price-to-earnings ratio of 56.77 and a beta of 4.65. Pfenex has a one year low of $3.16 and a one year high of $11.35.

Pfenex (NYSEMKT:PFNX) last issued its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by $0.06. The business had revenue of $3.03 million for the quarter, compared to analyst estimates of $3.10 million. Pfenex had a negative return on equity of 75.61% and a negative net margin of 406.87%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.43) EPS. Equities research analysts forecast that Pfenex will post ($2.09) EPS for the current fiscal year.

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In other Pfenex news, Director Jason Grenfell-Gardner purchased 10,000 shares of Pfenex stock in a transaction dated Monday, June 12th. The shares were acquired at an average price of $4.51 per share, with a total value of $45,100.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $45,100. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

A number of hedge funds have recently modified their holdings of PFNX. Russell Investments Group Ltd. boosted its stake in shares of Pfenex by 221.0% in the first quarter. Russell Investments Group Ltd. now owns 32,186 shares of the biotechnology company’s stock valued at $187,000 after buying an additional 22,160 shares during the period. Algert Global LLC boosted its stake in shares of 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 period. Nine Chapters Capital Management LLC purchased a new stake in shares of Pfenex during the first quarter valued at $265,000. Goldman Sachs Group Inc. boosted its stake in shares of Pfenex by 126.7% in the first quarter. Goldman Sachs Group Inc. now owns 56,020 shares of the biotechnology company’s stock valued at $325,000 after buying an additional 31,308 shares during the period. Finally, LMR Partners LLP purchased a new stake in shares of Pfenex during the second quarter valued at $252,000.

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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