Pfenex Inc (PFNX) to Post Q3 2018 Earnings of ($0.24) Per Share, William Blair Forecasts

Pfenex Inc (NYSEAMERICAN:PFNX) – Analysts at William Blair increased their Q3 2018 earnings per share estimates for shares of Pfenex in a report released on Thursday, August 9th. William Blair analyst A. Hsieh now anticipates that the biotechnology company will earn ($0.24) per share for the quarter, up from their previous estimate of ($0.28). William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Pfenex’s Q4 2018 earnings at ($0.31) EPS and FY2018 earnings at ($1.43) EPS.

Separately, Zacks Investment Research downgraded shares of Pfenex from a “buy” rating to a “hold” rating in a research report on Saturday, May 12th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $7.42.

Shares of NYSEAMERICAN PFNX opened at $4.85 on Monday. Pfenex has a fifty-two week low of $2.07 and a fifty-two week high of $8.42.

Pfenex (NYSEAMERICAN:PFNX) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.05). Pfenex had a negative net margin of 175.52% and a negative return on equity of 63.57%. The business had revenue of $4.19 million for the quarter, compared to the consensus estimate of $5.55 million.

Several institutional investors have recently modified their holdings of PFNX. Rhumbline Advisers purchased a new position in shares of Pfenex during the 2nd quarter valued at $103,000. Algert Global LLC purchased a new position in shares of Pfenex during the 2nd quarter valued at $154,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Pfenex during the 2nd quarter valued at $216,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Pfenex by 94.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,833 shares of the biotechnology company’s stock valued at $340,000 after buying an additional 30,488 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Pfenex by 142.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 68,390 shares of the biotechnology company’s stock valued at $370,000 after buying an additional 40,175 shares in the last quarter.

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.

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Earnings History and Estimates for Pfenex (NYSEAMERICAN:PFNX)

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