Pfenex (PFNX) Releases Earnings Results, Misses Expectations By $0.10 EPS

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.

In other Pfenex news, Director Phillip M. Schneider bought 11,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were bought at an average cost of $4.99 per share, with a total value of $54,890.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Evert B. Schimmelpennink bought 10,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The stock was acquired at an average cost of $5.04 per share, for a total transaction of $50,400.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 26,000 shares of company stock worth $129,540 over the last three months.

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.

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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.

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Earnings History for Pfenex (NYSEAMERICAN:PFNX)

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