Pfenex Inc (NYSEAMERICAN:PFNX) – Investment analysts at William Blair boosted their Q1 2019 earnings estimates for shares of Pfenex in a report released on Monday, September 10th, Zacks Investment Research reports. William Blair analyst A. Hsieh now expects that the biotechnology company will post earnings of ($0.27) per share for the quarter, up from their previous forecast of ($0.28). William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Pfenex’s Q2 2019 earnings at ($0.27) EPS, Q3 2019 earnings at ($0.33) EPS, Q4 2019 earnings at ($0.30) EPS, FY2019 earnings at ($1.18) EPS, FY2020 earnings at ($0.62) EPS and FY2021 earnings at $0.05 EPS.
Separately, Zacks Investment Research upgraded Pfenex from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th.
Shares of NYSEAMERICAN:PFNX traded down $0.11 during trading on Wednesday, hitting $4.54. The stock had a trading volume of 44,013 shares, compared to its average volume of 166,384. Pfenex has a 12-month low of $2.07 and a 12-month high of $8.42.
Pfenex (NYSEAMERICAN:PFNX) last announced its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.05). Pfenex had a negative return on equity of 63.57% and a negative net margin of 175.52%. The firm had revenue of $4.19 million during the quarter, compared to analysts’ expectations of $5.55 million.
In related news, insider Evert B. Schimmelpennink purchased 10,000 shares of Pfenex stock in a transaction that occurred on Tuesday, September 11th. The stock was bought at an average cost of $5.04 per share, for a total transaction of $50,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip M. Schneider purchased 11,000 shares of Pfenex stock in a transaction that occurred on Tuesday, September 11th. The shares were bought at an average price of $4.99 per share, with a total value of $54,890.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 26,000 shares of company stock valued at $129,540.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp grew its holdings in Pfenex by 509.2% in the second quarter. Northern Trust Corp now owns 255,473 shares of the biotechnology company’s stock valued at $1,382,000 after purchasing an additional 213,538 shares during the period. Bank of New York Mellon Corp grew its holdings in Pfenex by 142.4% in the second quarter. Bank of New York Mellon Corp now owns 68,390 shares of the biotechnology company’s stock valued at $370,000 after purchasing an additional 40,175 shares during the period. Sio Capital Management LLC acquired a new stake in Pfenex in the second quarter valued at approximately $1,025,000. Hilltop Holdings Inc. acquired a new stake in Pfenex in the second quarter valued at approximately $149,000. Finally, Alambic Investment Management L.P. acquired a new stake in Pfenex in the second quarter valued at approximately $563,000.
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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