Pfenex Inc (NYSEMKT:PFNX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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. “

PFNX has been the subject of a number of other reports. ValuEngine lowered shares of Pfenex from a “hold” rating to a “sell” rating in a research note on Saturday, June 3rd. William Blair reaffirmed an “outperform” rating on shares of Pfenex in a research note on Thursday, August 10th.

Pfenex (NYSEMKT PFNX) opened at 3.40 on Friday. Pfenex has a 12 month low of $3.33 and a 12 month high of $11.35. The firm has a market cap of $80.00 million, a P/E ratio of 54.84 and a beta of 4.65. The firm has a 50 day moving average of $4.11 and a 200-day moving average of $5.10.

Pfenex (NYSEMKT:PFNX) last announced its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.52) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.46) by $0.06. Pfenex had a negative net margin of 356.00% and a negative return on equity of 53.20%. The company had revenue of $3.03 million during the quarter, compared to the consensus estimate of $3.10 million. During the same quarter in the prior year, the company earned ($0.43) EPS. The business’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities research analysts forecast that Pfenex will post ($2.09) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece of content on another publication, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/26/pfenex-inc-pfnx-lifted-to-hold-at-zacks-investment-research.html.

In related news, Director Jason Grenfell-Gardner purchased 10,000 shares of Pfenex stock in a transaction dated Monday, June 12th. The stock was acquired at an average cost of $4.51 per share, with a total value of $45,100.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $45,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several hedge funds have recently bought and sold shares of PFNX. Russell Investments Group Ltd. raised its stake in Pfenex by 221.0% in the first quarter. Russell Investments Group Ltd. now owns 32,186 shares of the biotechnology company’s stock worth $187,000 after buying an additional 22,160 shares during the period. Algert Global LLC raised its stake in Pfenex by 207.3% in the first quarter. Algert Global LLC now owns 34,603 shares of the biotechnology company’s stock worth $201,000 after buying an additional 23,344 shares during the period. LMR Partners LLP bought a new stake in Pfenex during the second quarter worth about $252,000. Nine Chapters Capital Management LLC bought a new stake in Pfenex during the first quarter worth about $265,000. Finally, Susquehanna International Group LLP bought a new stake in Pfenex during the second quarter worth about $272,000.

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).

Receive News & Stock Ratings for Pfenex Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfenex Inc and related stocks with our FREE daily email newsletter.