Pfenex (PFNX) Announces Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Pfenex (NYSEAMERICAN:PFNX) released its quarterly earnings results on Thursday. The biotechnology company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.13, MarketWatch Earnings reports. The company had revenue of $10.36 million during the quarter, compared to analyst estimates of $5.63 million.

Shares of NYSEAMERICAN PFNX traded up $0.51 during trading on Friday, reaching $6.29. The company had a trading volume of 381,383 shares, compared to its average volume of 147,056. Pfenex has a twelve month low of $3.13 and a twelve month high of $8.42.

A number of research firms have recently weighed in on PFNX. William Blair reissued a “buy” rating on shares of Pfenex in a report on Tuesday, April 2nd. Zacks Investment Research raised Pfenex from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a report on Friday, March 15th. Finally, Wedbush reissued an “outperform” rating on shares of Pfenex in a report on Thursday, March 7th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in shares of Pfenex by 2,127.7% in the first quarter. BNP Paribas Arbitrage SA now owns 6,037 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 5,766 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Pfenex in the fourth quarter worth $45,000. Rhumbline Advisers raised its holdings in shares of Pfenex by 66.2% in the fourth quarter. Rhumbline Advisers now owns 33,921 shares of the biotechnology company’s stock worth $108,000 after acquiring an additional 13,517 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Pfenex by 496.1% in the fourth quarter. Millennium Management LLC now owns 75,364 shares of the biotechnology company’s stock worth $240,000 after acquiring an additional 62,722 shares during the last quarter. Finally, Falcon Point Capital LLC raised its holdings in shares of Pfenex by 3.3% in the fourth quarter. Falcon Point Capital LLC now owns 80,205 shares of the biotechnology company’s stock worth $256,000 after acquiring an additional 2,590 shares during the last quarter.

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Pfenex Company Profile

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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Earnings History for Pfenex (NYSEAMERICAN:PFNX)

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