Pfenex Inc (PFNX) is Reiterated by Mizuho to Buy, Lowers Price Target to $ 18

Pfenex Inc (PFNX) was Reiterated by Mizuho to “Buy” while Lowering the Price Target of the company shares to $ 18 from a previous price target of $22 . Mizuho advised their investors in a research report released on Aug 9, 2016.

Many Wall Street Analysts have commented on Pfenex Inc. Shares were Reiterated by Barclays on May 24, 2016 to “Overweight” and Lowered the Price Target to $ 14 from a previous price target of $28 .

On the company’s financial health, Pfenex Inc reported $-0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 8, 2016. Analyst had a consensus of $-0.47. The company had revenue of $3.10 million for the quarter, compared to analysts expectations of $2.50 million. The company’s revenue was up 34.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.27 EPS.

Pfenex Inc opened for trading at $9.49 and hit $10.54 on the upside on Monday, eventually ending the session at $10.48, with a gain of 12.45% or 1.16 points. The heightened volatility saw the trading volume jump to 2,25,962 shares. Company has a market cap of $245 M.

In a different news, on May 25, 2016, Patricia Lady (Chief Accounting Officer) sold 2,000 shares at $6.52 per share price. According to the SEC, on Dec 3, 2015, Patrick K. Lucy (Chief Business Officer) sold 1,500 shares at $14.15 per share price. On Dec 2, 2015, Henry W. Jr. Talbot (VP of Operations) sold 2,000 shares at $15.08 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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