Pfenex (NYSEAMERICAN:PFNX) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Pfenex (NYSEAMERICAN:PFNX) from a sell rating to a hold rating in a research report sent to investors 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. “

A number of other research firms also recently weighed in on PFNX. TheStreet downgraded Pfenex from a c rating to a d+ rating in a report on Tuesday, May 26th. Oppenheimer boosted their price objective on shares of Pfenex from $10.00 to $15.00 and gave the company an outperform rating in a report on Monday, June 15th. Finally, SunTrust Banks lowered their target price on shares of Pfenex from $15.00 to $13.00 and set a buy rating on the stock in a report on Tuesday, May 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $14.95.

PFNX opened at $7.09 on Thursday. Pfenex has a 1-year low of $5.26 and a 1-year high of $14.00.

Pfenex (NYSEAMERICAN:PFNX) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.07). The business had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $3.75 million.

Institutional investors have recently modified their holdings of the company. Strs Ohio increased its stake in shares of Pfenex by 7.8% in the 2nd quarter. Strs Ohio now owns 61,000 shares of the biotechnology company’s stock valued at $509,000 after purchasing an additional 4,400 shares during the last quarter. Creative Planning acquired a new stake in Pfenex in the second quarter valued at about $119,000. SG Americas Securities LLC grew its position in Pfenex by 63.5% in the second quarter. SG Americas Securities LLC now owns 18,830 shares of the biotechnology company’s stock valued at $157,000 after acquiring an additional 7,316 shares during the last quarter. State Street Corp raised its stake in Pfenex by 0.6% during the first quarter. State Street Corp now owns 578,707 shares of the biotechnology company’s stock worth $5,104,000 after acquiring an additional 3,686 shares in the last quarter. Finally, Park West Asset Management LLC lifted its holdings in shares of Pfenex by 36.9% in the first quarter. Park West Asset Management LLC now owns 528,670 shares of the biotechnology company’s stock worth $4,663,000 after acquiring an additional 142,575 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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