Pfenex (PFNX) Upgraded to Hold at Zacks Investment Research
Pfenex (NYSEAMERICAN:PFNX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Thursday.
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. “
Separately, William Blair reissued an “outperform” rating on shares of Pfenex in a research note on Thursday, August 9th.
Pfenex (NYSEAMERICAN:PFNX) last announced its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). Pfenex had a negative return on equity of 63.57% and a negative net margin of 175.52%. The company had revenue of $4.19 million for the quarter, compared to analyst estimates of $5.55 million.
Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of Pfenex by 32.0% during the first quarter. Dimensional Fund Advisors LP now owns 451,311 shares of the biotechnology company’s stock worth $2,708,000 after buying an additional 109,442 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Pfenex during the first quarter worth about $584,000. Blair William & Co. IL boosted its position in shares of Pfenex by 60.9% during the first quarter. Blair William & Co. IL now owns 1,369,920 shares of the biotechnology company’s stock worth $8,220,000 after buying an additional 518,672 shares during the period. Acadian Asset Management LLC boosted its position in shares of Pfenex by 183.1% during the second quarter. Acadian Asset Management LLC now owns 153,225 shares of the biotechnology company’s stock worth $829,000 after buying an additional 99,109 shares during the period. Finally, Algert Global LLC acquired a new position in shares of Pfenex during the second quarter worth about $154,000.
Pfenex Company Profile
Pfenex Inc, a clinical-stage biotechnology company, develops biosimilar therapeutics in the United States. The company's lead product candidates include PF708, a therapeutic equivalent candidate to Forteo (teriparatide) for the treatment of osteoporosis; and novel anthrax vaccine candidates, such as Px563L and RPA563 that are in Phase I study.
Featured Story: Asset Allocation
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pfenex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfenex and related companies with MarketBeat.com's FREE daily email newsletter.