Pfenex (PFNX) Shares Down 14.8%
Pfenex Inc (NYSEAMERICAN:PFNX)’s share price dropped 14.8% during mid-day trading on Thursday . The stock traded as low as $2.73 and last traded at $2.88. Approximately 588,000 shares traded hands during mid-day trading, an increase of 338% from the average daily volume of 134,380 shares. The stock had previously closed at $3.38.
PFNX has been the topic of several analyst reports. JMP Securities cut their target price on Pfenex from $21.00 to $8.00 and set an “outperform” rating on the stock in a research note on Friday, November 10th. Zacks Investment Research raised Pfenex from a “strong sell” rating to a “hold” rating in a report on Saturday, August 26th. ValuEngine downgraded Pfenex from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, William Blair reissued an “ourperform” rating on shares of Pfenex in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $5.50.
Pfenex (NYSEAMERICAN:PFNX) last issued its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.17. The business had revenue of $5.02 million during the quarter, compared to the consensus estimate of $3.30 million. Pfenex had a negative return on equity of 63.57% and a negative net margin of 175.52%. The company’s quarterly revenue was down 89.7% on a year-over-year basis. During the same quarter last year, the company earned $1.46 earnings per share.
Institutional investors have recently added to or reduced their stakes in the stock. C WorldWide Group Holding A S raised its position in Pfenex by 10.5% during the third quarter. C WorldWide Group Holding A S now owns 271,400 shares of the biotechnology company’s stock valued at $820,000 after acquiring an additional 25,900 shares in the last quarter. Blair William & Co. IL raised its position in Pfenex by 14.2% during the second quarter. Blair William & Co. IL now owns 250,817 shares of the biotechnology company’s stock valued at $1,006,000 after acquiring an additional 31,108 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Pfenex by 126.7% during the first quarter. Goldman Sachs Group Inc. now owns 56,020 shares of the biotechnology company’s stock valued at $325,000 after acquiring an additional 31,308 shares in the last quarter. LMR Partners LLP purchased a new position in Pfenex during the second quarter valued at approximately $252,000. Finally, Dimensional Fund Advisors LP raised its position in Pfenex by 249.0% during the first quarter. Dimensional Fund Advisors LP now owns 94,809 shares of the biotechnology company’s stock valued at $551,000 after acquiring an additional 67,640 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).
Receive News & Ratings for Pfenex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfenex and related companies with MarketBeat.com's FREE daily email newsletter.