Pfenex Inc (PFNX) is Reiterated by Barclays to Overweight, Lowers Price Target to $ 14

Pfenex Inc (PFNX) was Reiterated by Barclays to “Overweight” while Lowering the Price Target of the company shares to $ 14 from a previous price target of $28 . Barclays advised their investors in a research report released on May 24, 2016.

On the company’s financial health, Pfenex Inc reported $-0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 9, 2016. Analyst had a consensus of $-0.47. The company had revenue of $2.76 million for the quarter, compared to analysts expectations of $1.95 million. The company’s revenue was up 39.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.29 EPS.

Pfenex Inc opened for trading at $6.03 and hit $6.53 on the upside on Friday, eventually ending the session at $6.25, with a gain of 3.48% or 0.21 points. The heightened volatility saw the trading volume jump to 57,780 shares. Company has a market cap of $146,100 M.

In a different news, on Dec 3, 2015, Patrick K. Lucy (Chief Business Officer) sold 1,500 shares at $14.15 per share price. According to the SEC, on Dec 2, 2015, Henry W. Jr. Talbot (VP of Operations) sold 2,000 shares at $15.08 per share price. On Dec 2, 2015, Bertrand C. Liang (Chief Executive Officer) sold 5,000 shares at $15.21 per share price, according to the Form-4 filing with the securities and exchange commission.

Pfenex Inc. is a clinical-stage biotechnology company. The Company is engaged in the development of biosimilar therapeutics and high-value and difficult to manufacture proteins. The Company’s lead product candidate is PF582 a biosimilar candidate to Lucentis (ranibizumab). The Company is conducting a Phase Ib/IIa trial for PF582 in patients with wet age-related macular degeneration (wet AMD). The Company’s next most advanced product candidate is PF530 a biosimilar candidate to Betaseron (interferon beta-1b). The Company’s pipeline includes five other preclinical biosimilar products under development such as PF726 PF529 PF688 PF694 and PF444. It is also developing a vaccine Px563L which is an anthrax vaccine candidate; a generic product PF708 and next generation biologic candidates. The Company’s product candidates are enabled by its patented protein production platform Pfenex Expression Technology.

Pfenex Inc

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