Pfenex Inc (PFNX) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Pfenex Inc (NYSEMKT:PFNX) from a strong sell rating to a hold rating in a report published on Wednesday.

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 equities analysts also recently weighed in on PFNX. ValuEngine downgraded Pfenex from a hold rating to a sell rating in a research report on Tuesday, August 1st. William Blair reissued an outperform rating on shares of Pfenex in a research report on Thursday, August 10th.

Shares of Pfenex (NYSEMKT:PFNX) remained flat at $3.04 on Wednesday. 67,925 shares of the company were exchanged. The stock has a 50 day moving average price of $3.25 and a 200-day moving average price of $4.20. Pfenex has a 1-year low of $2.94 and a 1-year high of $11.35. The firm has a market capitalization of $71.53 million, a price-to-earnings ratio of 49.03 and a beta of 4.65.

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

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Hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in shares of Pfenex by 221.0% during the first quarter. Russell Investments Group Ltd. now owns 32,186 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 22,160 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Pfenex during the second quarter worth $252,000. Susquehanna International Group LLP acquired a new stake in shares of Pfenex during the second quarter worth $272,000. Goldman Sachs Group Inc. boosted its holdings in shares of Pfenex by 126.7% during the first quarter. Goldman Sachs Group Inc. now owns 56,020 shares of the biotechnology company’s stock worth $325,000 after purchasing an additional 31,308 shares during the last quarter. Finally, Spark Investment Management LLC acquired a new stake in shares of Pfenex during the first quarter worth $439,000.

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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