Pfenex (NYSEAMERICAN:PFNX) posted its quarterly earnings results on Wednesday. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.10), Morningstar.com reports. The business had revenue of $3.57 million during the quarter, compared to the consensus estimate of $6.30 million.
Shares of NYSEAMERICAN PFNX traded up $0.20 during midday trading on Thursday, hitting $4.71. 2,401 shares of the company’s stock were exchanged, compared to its average volume of 155,190. Pfenex has a twelve month low of $2.07 and a twelve month high of $8.42.
PFNX has been the topic of several research analyst reports. Zacks Investment Research raised Pfenex from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Wednesday, October 10th. William Blair reissued an “outperform” rating on shares of Pfenex in a research report on Monday, September 10th.
Hedge funds and other institutional investors have recently modified their holdings of the company. Hilltop Holdings Inc. acquired a new position in Pfenex during the second quarter worth approximately $149,000. Algert Global LLC acquired a new position in Pfenex during the second quarter worth approximately $154,000. Alambic Investment Management L.P. acquired a new position in Pfenex during the second quarter worth approximately $563,000. Russell Investments Group Ltd. acquired a new position in Pfenex during the second quarter worth approximately $2,306,000. Finally, BlackRock Inc. increased its position in Pfenex by 257.1% during the second quarter. BlackRock Inc. now owns 1,316,873 shares of the biotechnology company’s stock worth $7,125,000 after buying an additional 948,102 shares during the period.
Pfenex Inc, a clinical-stage biotechnology company, develops biosimilar therapeutics in the United States. The company's lead product candidates include PF708, a therapeutic equivalent candidate to Forteo (teriparatide) for the treatment of osteoporosis; and novel anthrax vaccine candidates, such as Px563L and RPA563 that are in Phase I study.
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