Pfenex Inc. (PFNX) Rating Increased to Hold at TheStreet
Pfenex Inc. (NYSEMKT:PFNX) was upgraded by equities research analysts at TheStreet from a “sell” rating to a “hold” rating in a report issued on Monday.
Separately, Mizuho lowered their target price on shares of Pfenex from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $16.00.
Pfenex (NYSEMKT:PFNX) opened at 10.34 on Monday. Pfenex has a one year low of $5.78 and a one year high of $16.15. The company’s 50-day moving average is $8.78 and its 200 day moving average is $8.24. The company has a market capitalization of $242.14 million, a P/E ratio of 32.41 and a beta of 4.65.
Pfenex (NYSEMKT:PFNX) last issued its earnings results on Wednesday, November 9th. The company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $2.02. The firm had revenue of $48.82 million for the quarter, compared to analyst estimates of $3.18 million. Pfenex’s quarterly revenue was up 2269.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. Analysts predict that Pfenex will post ($1.92) EPS for the current year.
In related news, insider Patrick K. Lucy sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $10.04, for a total value of $50,200.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
A number of large investors have recently bought and sold shares of PFNX. Franklin Resources Inc. boosted its stake in Pfenex by 7.3% in the second quarter. Franklin Resources Inc. now owns 3,926,133 shares of the company’s stock valued at $32,862,000 after buying an additional 266,805 shares in the last quarter. Sanders Morris Harris Inc. boosted its stake in Pfenex by 94.1% in the second quarter. Sanders Morris Harris Inc. now owns 361,657 shares of the company’s stock valued at $3,027,000 after buying an additional 175,343 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in Pfenex during the third quarter valued at $1,429,000. JPMorgan Chase & Co. purchased a new stake in Pfenex during the second quarter valued at $648,000. Finally, TFS Capital LLC boosted its stake in Pfenex by 73.2% in the second quarter. TFS Capital LLC now owns 174,578 shares of the company’s stock valued at $1,461,000 after buying an additional 73,807 shares in the last quarter.
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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