FY2017 EPS Estimates for Pfenex Inc Lifted by Analyst (PFNX)

Pfenex Inc (NYSEAMERICAN:PFNX) – Stock analysts at William Blair lifted their FY2017 earnings per share estimates for shares of Pfenex in a research report issued to clients and investors on Tuesday. William Blair analyst A. Hsieh now forecasts that the biotechnology company will post earnings per share of ($1.11) for the year, up from their previous estimate of ($1.89). William Blair currently has a “Ourperform” rating on the stock. William Blair also issued estimates for Pfenex’s Q4 2017 earnings at $0.22 EPS.

Pfenex (NYSEAMERICAN:PFNX) last announced its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.37) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.17. The business had revenue of $5.02 million during the quarter, compared to analysts’ expectations of $3.30 million. Pfenex had a negative net margin of 175.52% and a negative return on equity of 63.57%. The firm’s revenue for the quarter was down 89.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 EPS.

Several other equities research analysts have also recently commented on the stock. ValuEngine cut shares of Pfenex from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Pfenex from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research report on Tuesday, October 24th. Finally, JMP Securities dropped their target price on shares of Pfenex from $21.00 to $8.00 and set an “outperform” rating for the company in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Pfenex has a consensus rating of “Hold” and a consensus price target of $5.50.

Shares of Pfenex (NYSEAMERICAN PFNX) opened at $2.88 on Thursday. The firm has a market cap of $50.39, a price-to-earnings ratio of -1.62 and a beta of 3.95. Pfenex has a 12-month low of $2.07 and a 12-month high of $9.79.

A number of large investors have recently added to or reduced their stakes in PFNX. Sanders Morris Harris LLC increased its stake in Pfenex by 33.9% during the 3rd quarter. Sanders Morris Harris LLC now owns 998,151 shares of the biotechnology company’s stock valued at $3,015,000 after purchasing an additional 252,464 shares in the last quarter. AJO LP bought a new stake in Pfenex during the 2nd quarter valued at about $946,000. Dimensional Fund Advisors LP grew its stake in shares of Pfenex by 112.1% in the second quarter. Dimensional Fund Advisors LP now owns 201,066 shares of the biotechnology company’s stock worth $806,000 after acquiring an additional 106,257 shares during the period. Legal & General Group Plc grew its stake in shares of Pfenex by 2,567.5% in the second quarter. Legal & General Group Plc now owns 110,249 shares of the biotechnology company’s stock worth $442,000 after acquiring an additional 106,116 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Pfenex by 186.0% in the second quarter. Goldman Sachs Group Inc. now owns 160,204 shares of the biotechnology company’s stock worth $642,000 after acquiring an additional 104,184 shares during the period.

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Pfenex Company Profile

Pfenex Inc is a clinical-stage biotechnology company. The Company is engaged in the development of biosimilar and therapeutic equivalent products to branded therapeutics and other high-value and difficult-to-manufacture proteins. Its lead product candidate is PF582, a biosimilar candidate to Lucentis (ranibizumab).

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