Pfenex (NYSEAMERICAN:PFNX) was up 1.3% during mid-day trading on Wednesday . The company traded as high as $8.42 and last traded at $7.60. Approximately 1,666 shares traded hands during trading, a decline of 99% from the average daily volume of 123,750 shares. The stock had previously closed at $7.70.
A number of equities research analysts have recently issued reports on PFNX shares. Zacks Investment Research upgraded Pfenex from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research note on Thursday, March 22nd. Barclays set a $8.00 price objective on Pfenex and gave the stock a “buy” rating in a research note on Thursday, March 29th. Finally, William Blair reiterated an “outperform” rating on shares of Pfenex in a research note on Wednesday, April 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Pfenex currently has a consensus rating of “Hold” and an average target price of $7.67.
Pfenex (NYSEAMERICAN:PFNX) last posted its quarterly earnings results on Thursday, March 15th. The biotechnology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Pfenex had a negative return on equity of 63.57% and a negative net margin of 175.52%. The business had revenue of $17.91 million for the quarter, compared to analysts’ expectations of $5.00 million.
A number of institutional investors and hedge funds have recently bought and sold shares of PFNX. Spark Investment Management LLC grew its holdings in Pfenex by 126.6% in the 4th quarter. Spark Investment Management LLC now owns 69,100 shares of the biotechnology company’s stock valued at $183,000 after buying an additional 38,600 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Pfenex in the 1st quarter valued at $584,000. Mackenzie Financial Corp acquired a new position in Pfenex in the 4th quarter valued at $588,000. Dimensional Fund Advisors LP grew its holdings in Pfenex by 51.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 304,403 shares of the biotechnology company’s stock valued at $919,000 after buying an additional 103,337 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Pfenex by 7.2% in the 4th quarter. Deutsche Bank AG now owns 332,060 shares of the biotechnology company’s stock valued at $883,000 after buying an additional 22,392 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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