Pfenex Inc (NYSEAMERICAN:PFNX) was the target of a significant increase in short interest in the month of March. As of March 29th, there was short interest totalling 206,985 shares, an increase of 38.4% from the March 15th total of 149,543 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 176,381 shares, the days-to-cover ratio is presently 1.2 days.
PFNX stock opened at $5.65 on Wednesday. Pfenex has a 12 month low of $2.07 and a 12 month high of $6.77.
Pfenex (NYSEAMERICAN:PFNX) last released its earnings results on Thursday, March 15th. The biotechnology company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. Pfenex had a negative net margin of 175.52% and a negative return on equity of 63.57%. The firm had revenue of $17.91 million for the quarter, compared to analyst estimates of $5.00 million.
A number of equities analysts recently commented on PFNX shares. Zacks Investment Research raised shares of Pfenex from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research report on Thursday, March 22nd. Barclays set a $8.00 price target on shares of Pfenex and gave the stock a “buy” rating in a research report on Thursday, March 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Pfenex in a research report on Friday, March 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Pfenex has a consensus rating of “Hold” and a consensus price target of $7.67.
A number of hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in Pfenex by 1.1% in the 4th 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. Sanders Morris Harris LLC increased its holdings in Pfenex by 35.6% in the 4th quarter. Sanders Morris Harris LLC now owns 1,353,604 shares of the biotechnology company’s stock valued at $3,600,000 after buying an additional 355,453 shares during the period. Renaissance Technologies LLC increased its holdings in Pfenex by 26.3% in the 4th 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. Millennium Management LLC increased its holdings in Pfenex by 61.3% in the 4th quarter. Millennium Management LLC now owns 359,288 shares of the biotechnology company’s stock valued at $956,000 after buying an additional 136,514 shares during the period. Finally, Deutsche Bank AG increased its holdings in Pfenex by 7.2% in the 4th quarter. Deutsche Bank AG now owns 332,060 shares of the biotechnology company’s stock valued at $883,000 after buying an additional 22,392 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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