Pfenex (NYSEAMERICAN:PFNX) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Pfenex (NYSEAMERICAN:PFNX) from a strong-buy rating to a hold rating in a research note released 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. “

Separately, William Blair restated a buy rating on shares of Pfenex in a research note on Tuesday, April 2nd.

PFNX stock opened at $6.16 on Thursday. Pfenex has a fifty-two week low of $3.13 and a fifty-two week high of $7.64.

Pfenex (NYSEAMERICAN:PFNX) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.13. The company had revenue of $10.36 million during the quarter, compared to the consensus estimate of $5.63 million.

Hedge funds and other institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC boosted its stake in Pfenex by 12.2% in the 4th quarter. Squarepoint Ops LLC now owns 102,088 shares of the biotechnology company’s stock worth $326,000 after purchasing an additional 11,088 shares during the period. Rhumbline Advisers boosted its stake in Pfenex by 66.2% in the 4th quarter. Rhumbline Advisers now owns 33,921 shares of the biotechnology company’s stock worth $108,000 after purchasing an additional 13,517 shares during the period. RK Capital Management LLC bought a new position in Pfenex in the 1st quarter worth about $1,864,000. Millennium Management LLC boosted its stake in Pfenex by 496.1% in the 4th quarter. Millennium Management LLC now owns 75,364 shares of the biotechnology company’s stock worth $240,000 after purchasing an additional 62,722 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Pfenex by 4.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 676,046 shares of the biotechnology company’s stock worth $2,157,000 after purchasing an additional 31,132 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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