Pfenex (NYSEAMERICAN:PFNX) Stock Rating Reaffirmed by William Blair

Pfenex (NYSEAMERICAN:PFNX)‘s stock had its “outperform” rating reiterated by research analysts at William Blair in a research note issued on Friday, March 16th. William Blair also issued estimates for Pfenex’s Q1 2019 earnings at ($0.33) EPS, Q2 2019 earnings at ($0.35) EPS, Q3 2019 earnings at ($0.44) EPS and Q4 2019 earnings at ($0.41) EPS.

Separately, Zacks Investment Research downgraded Pfenex from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.67.

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Shares of PFNX traded down $0.16 during trading on Friday, reaching $5.40. The company’s stock had a trading volume of 69,983 shares, compared to its average volume of 132,165. Pfenex has a twelve month low of $2.07 and a twelve month high of $6.77.

Pfenex (NYSEAMERICAN:PFNX) last issued its quarterly earnings results on Thursday, March 15th. The biotechnology company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. Pfenex had a negative return on equity of 63.57% and a negative net margin of 175.52%. The business had revenue of $17.91 million during the quarter, compared to the consensus estimate of $5.00 million.

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Pfenex by 112.1% during the second quarter. Dimensional Fund Advisors LP now owns 201,066 shares of the biotechnology company’s stock valued at $806,000 after purchasing an additional 106,257 shares during the last quarter. Spark Investment Management LLC raised its position in Pfenex by 126.6% during the fourth quarter. Spark Investment Management LLC now owns 69,100 shares of the biotechnology company’s stock valued at $183,000 after buying an additional 38,600 shares during the period. Mackenzie Financial Corp acquired a new position in Pfenex during the fourth quarter valued at $588,000. Renaissance Technologies LLC raised its position in Pfenex by 26.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,010,600 shares of the biotechnology company’s stock valued at $2,688,000 after buying an additional 210,600 shares during the period. Finally, Franklin Resources Inc. raised its position in Pfenex by 1.1% during the fourth quarter. Franklin Resources Inc. now owns 2,783,060 shares of the biotechnology company’s stock valued at $7,403,000 after buying an additional 31,295 shares during the period.

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Pfenex Company Profile

Pfenex Inc, a clinical-stage biotechnology company, develops biosimilar therapeutics in the United States. Its lead product candidates include PF708, a therapeutic equivalent candidate to Forteo (teriparatide) for the treatment of osteoporosis; PF582, a biosimilar to Lucentis (ranibizumab) for the treatment of patients with retinal diseases; and Px563L, a novel anthrax vaccine candidate in Phase 1a trial.

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