Zacks Investment Research Lowers Pfenex (NYSEAMERICAN:PFNX) to Hold

Zacks Investment Research lowered shares of Pfenex (NYSEAMERICAN:PFNX) from a strong-buy rating to a hold rating in a report released on Thursday, 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. “

Separately, William Blair restated a buy rating on shares of Pfenex in a research note on Tuesday, April 2nd.

NYSEAMERICAN PFNX opened at $6.16 on Thursday. Pfenex has a 1 year low of $3.13 and a 1 year high of $7.64.

Pfenex (NYSEAMERICAN:PFNX) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.13. The company had revenue of $10.36 million during the quarter, compared to analyst estimates of $5.63 million.

Several large investors have recently made changes to their positions in PFNX. BNP Paribas Arbitrage SA raised its holdings in shares of Pfenex by 2,127.7% in the first quarter. BNP Paribas Arbitrage SA now owns 6,037 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 5,766 shares during the last quarter. Weiss Asset Management LP purchased a new stake in shares of Pfenex in the first quarter valued at about $81,000. Rhumbline Advisers raised its holdings in shares of Pfenex by 66.2% in the fourth quarter. Rhumbline Advisers now owns 33,921 shares of the biotechnology company’s stock valued at $108,000 after buying an additional 13,517 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Pfenex by 496.1% in the fourth quarter. Millennium Management LLC now owns 75,364 shares of the biotechnology company’s stock valued at $240,000 after buying an additional 62,722 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Pfenex by 16.9% in the fourth quarter. Bank of New York Mellon Corp now owns 95,602 shares of the biotechnology company’s stock valued at $305,000 after buying an additional 13,795 shares during the last quarter.

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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