Pfenex (NYSEAMERICAN:PFNX) issued its earnings results on Wednesday. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.10), Morningstar.com reports. The firm had revenue of $3.57 million during the quarter, compared to analyst estimates of $6.30 million.
Pfenex stock traded up $0.24 during midday trading on Thursday, hitting $4.75. 2,201 shares of the company were exchanged, compared to its average volume of 155,190. Pfenex has a fifty-two week low of $2.07 and a fifty-two week high of $8.42.
Several research firms recently commented on PFNX. Zacks Investment Research raised Pfenex from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Thursday, July 12th. William Blair reissued an “outperform” rating on shares of Pfenex in a research report on Thursday, August 9th.
Several institutional investors and hedge funds have recently made changes to their positions in PFNX. Rhumbline Advisers acquired a new position in shares of Pfenex in the 2nd quarter valued at approximately $103,000. Hilltop Holdings Inc. acquired a new position in shares of Pfenex in the 2nd quarter valued at approximately $149,000. Algert Global LLC acquired a new position in shares of Pfenex in the 2nd quarter valued at approximately $154,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Pfenex in the 2nd quarter valued at approximately $216,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Pfenex by 94.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 62,833 shares of the biotechnology company’s stock valued at $340,000 after purchasing an additional 30,488 shares in the last quarter.
Pfenex Company Profile
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.
Further Reading: Swap
Receive News & Ratings for Pfenex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfenex and related companies with MarketBeat.com's FREE daily email newsletter.