Pfenex (PFNX) Downgraded to Hold at Zacks Investment Research
Pfenex (NYSEAMERICAN:PFNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
Separately, William Blair reaffirmed an “outperform” rating on shares of Pfenex in a report on Thursday, August 9th.
Pfenex (NYSEAMERICAN:PFNX) last released its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10). The business had revenue of $3.57 million for the quarter, compared to analysts’ expectations of $6.30 million.
In other Pfenex news, Director Phillip M. Schneider bought 11,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was purchased at an average price of $4.99 per share, with a total value of $54,890.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Evert B. Schimmelpennink bought 10,000 shares of the stock in a transaction on Tuesday, September 11th. The shares were acquired at an average cost of $5.04 per share, with a total value of $50,400.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 26,000 shares of company stock valued at $129,540 in the last ninety days.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFNX. Sio Capital Management LLC boosted its position in shares of Pfenex by 12.7% during the third quarter. Sio Capital Management LLC now owns 213,608 shares of the biotechnology company’s stock worth $1,092,000 after purchasing an additional 24,089 shares in the last quarter. Algert Global LLC boosted its position in shares of Pfenex by 222.0% during the third quarter. Algert Global LLC now owns 91,777 shares of the biotechnology company’s stock worth $469,000 after purchasing an additional 63,271 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Pfenex by 18.7% during the third quarter. Renaissance Technologies LLC now owns 1,206,005 shares of the biotechnology company’s stock worth $6,163,000 after purchasing an additional 189,705 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Pfenex by 678.0% during the third quarter. JPMorgan Chase & Co. now owns 90,151 shares of the biotechnology company’s stock worth $461,000 after purchasing an additional 78,563 shares in the last quarter. Finally, Primecap Management Co. CA boosted its position in shares of Pfenex by 3.2% during the third quarter. Primecap Management Co. CA now owns 3,412,900 shares of the biotechnology company’s stock worth $17,440,000 after purchasing an additional 104,500 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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