Pfenex (NYSEAMERICAN:PFNX) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Pfenex (NYSEAMERICAN:PFNX) from a sell rating to a hold rating in a report published on Tuesday, Zacks.com reports.

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. “

A number of other research firms also recently weighed in on PFNX. JMP Securities increased their price objective on Pfenex from $13.00 to $17.00 and gave the company an outperform rating in a report on Wednesday, September 11th. William Blair reiterated a buy rating on shares of Pfenex in a report on Friday, October 11th. Finally, Cantor Fitzgerald initiated coverage on shares of Pfenex in a research report on Thursday, October 24th. They set an overweight rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $14.92.

Shares of PFNX stock opened at $10.62 on Tuesday. Pfenex has a 12 month low of $3.13 and a 12 month high of $11.39.

Pfenex (NYSEAMERICAN:PFNX) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $15.25 million during the quarter, compared to the consensus estimate of $14.80 million.

In related news, insider Patrick K. Lucy sold 3,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $10.38, for a total transaction of $31,140.00. Also, insider Patrick K. Lucy sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $10.01, for a total transaction of $60,060.00.

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in Pfenex by 217.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,763 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 2,578 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Pfenex by 308.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 8,755 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 6,613 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in shares of Pfenex in the 3rd quarter valued at about $95,000. Marshall Wace LLP acquired a new stake in shares of Pfenex in the second quarter valued at approximately $80,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Pfenex during the second quarter worth approximately $91,000.

Pfenex Company Profile

Pfenex Inc, a clinical-stage development and licensing biotechnology company, focuses on developing protein therapies for unmet patient needs. Its lead product candidates include PF708, a therapeutic equivalent drug candidate to Forteo (teriparatide) for the treatment of osteoporosis; and novel anthrax vaccine candidates, such as Px563L and RPA563 that have completed Phase Ia clinical study.

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