Pfenex (NYSEAMERICAN:PFNX) Downgraded by Zacks Investment Research to “Sell”

Pfenex (NYSEAMERICAN:PFNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “

Other equities analysts also recently issued reports about the company. JMP Securities raised their price objective on Pfenex from $13.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. William Blair restated a “buy” rating on shares of Pfenex in a report on Friday, October 11th. Finally, Cantor Fitzgerald began coverage on Pfenex in a report on Thursday, October 24th. They issued an “overweight” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $14.92.

Shares of Pfenex stock traded down $0.06 during trading hours on Tuesday, reaching $8.45. The stock had a trading volume of 12,377 shares, compared to its average volume of 210,404. Pfenex has a 1 year low of $3.13 and a 1 year high of $11.39.

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

In related news, insider Patrick K. Lucy sold 6,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $8.00, for a total transaction of $48,000.00.

Several large investors have recently made changes to their positions in PFNX. Bank of New York Mellon Corp boosted its position in Pfenex by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 97,346 shares of the biotechnology company’s stock valued at $656,000 after purchasing an additional 1,499 shares during the period. Tower Research Capital LLC TRC boosted its position in Pfenex by 217.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,763 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 2,578 shares during the period. Eversept Partners LP boosted its position in Pfenex by 7.0% during the 2nd quarter. Eversept Partners LP now owns 80,968 shares of the biotechnology company’s stock valued at $546,000 after purchasing an additional 5,268 shares during the period. RK Capital Management LLC boosted its position in Pfenex by 2.1% during the 2nd quarter. RK Capital Management LLC now owns 307,895 shares of the biotechnology company’s stock valued at $2,075,000 after purchasing an additional 6,349 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in Pfenex by 308.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 8,755 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 6,613 shares during the period.

About Pfenex

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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