Pfenex (NYSEAMERICAN:PFNX) Shares Up 5.2%

Pfenex Inc (NYSEAMERICAN:PFNX) shares shot up 5.2% on Wednesday . The stock traded as high as $9.15 and last traded at $9.04, 216,600 shares were traded during trading. An increase of 36% from the average session volume of 159,479 shares. The stock had previously closed at $8.59.

Several brokerages have weighed in on PFNX. Zacks Investment Research raised shares of Pfenex from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research report on Thursday, August 15th. JMP Securities increased their price target on shares of Pfenex from $13.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th.

Pfenex (NYSEAMERICAN:PFNX) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.24) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.07. The firm had revenue of $2.81 million for the quarter, compared to analysts’ expectations of $5.65 million.

In other news, insider Patrick K. Lucy sold 6,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $10.01, for a total value of $60,060.00.

Large investors have recently bought and sold shares of the company. RK Capital Management LLC lifted its position in shares of Pfenex by 2.1% in the 2nd quarter. RK Capital Management LLC now owns 307,895 shares of the biotechnology company’s stock worth $2,075,000 after purchasing an additional 6,349 shares during the period. Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Pfenex in the 2nd quarter worth about $139,000. Acadian Asset Management LLC increased its stake in shares of Pfenex by 39.8% in the 2nd quarter. Acadian Asset Management LLC now owns 231,620 shares of the biotechnology company’s stock worth $1,561,000 after acquiring an additional 65,986 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Pfenex in the 2nd quarter worth about $91,000. Finally, Eversept Partners LP increased its stake in shares of Pfenex by 7.0% in the 2nd quarter. Eversept Partners LP now owns 80,968 shares of the biotechnology company’s stock worth $546,000 after acquiring an additional 5,268 shares in the last quarter.

About Pfenex (NYSEAMERICAN:PFNX)

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.

Further Reading: Profit margin is different from the revenue

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