Zacks Investment Research Lowers Pfenex (PFNX) to Hold

Zacks Investment Research cut shares of Pfenex (NYSEAMERICAN:PFNX) from a buy rating to a hold rating in a research report released on Friday morning.

According to Zacks, “Pfenex Inc. is a clinical-stage biotechnology company developing and commercializing proteins. The company’s lead product candidate is PF582, a biosimilar candidate to Lucentis, for the potential treatment of patients with retinal diseases. It leverages its Pf?nex Expression Technology (TM) platform to build a pipeline of product candidates and preclinical products under development including other biosimilars, as well as vaccines, generics and next generation biologics. Pfenex Inc. is headquartered in San Diego, California. “

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Separately, William Blair reaffirmed an outperform rating on shares of Pfenex in a report on Friday, March 16th.

Shares of Pfenex (NYSEAMERICAN PFNX) opened at $6.10 on Friday. The firm has a market cap of $106.11, a price-to-earnings ratio of -3.43 and a beta of 3.60. Pfenex has a 1-year low of $2.07 and a 1-year high of $6.29.

A number of large investors have recently bought and sold shares of the business. Sanders Morris Harris LLC boosted its holdings in Pfenex by 35.6% in the fourth quarter. Sanders Morris Harris LLC now owns 1,353,604 shares of the biotechnology company’s stock valued at $3,600,000 after purchasing an additional 355,453 shares during the last quarter. Millennium Management LLC boosted its holdings in Pfenex by 61.3% in the fourth quarter. Millennium Management LLC now owns 359,288 shares of the biotechnology company’s stock valued at $956,000 after purchasing an additional 136,514 shares during the last quarter. Deutsche Bank AG boosted its holdings in Pfenex by 7.2% in the fourth quarter. Deutsche Bank AG now owns 332,060 shares of the biotechnology company’s stock valued at $883,000 after purchasing an additional 22,392 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Pfenex by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 2,783,060 shares of the biotechnology company’s stock valued at $7,403,000 after purchasing an additional 31,295 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Pfenex by 26.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,010,600 shares of the biotechnology company’s stock valued at $2,688,000 after purchasing an additional 210,600 shares during the last quarter.

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About Pfenex

Pfenex Inc, a clinical-stage biotechnology company, develops biosimilar therapeutics in the United States. Its lead product candidates include PF708, a therapeutic equivalent candidate to Forteo (teriparatide) for the treatment of osteoporosis; PF582, a biosimilar to Lucentis (ranibizumab) for the treatment of patients with retinal diseases; and Px563L, a novel anthrax vaccine candidate in Phase 1a trial.

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