Pfenex Inc (PFNX) Releases Earnings Results, Beats Expectations By $0.04 EPS

Pfenex Inc (PFNX) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $-0.43 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $-0.47. The company posted revenue of $3.10 million in the period, 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.

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 .

Pfenex Inc opened for trading at $9.18 and hit $9.32 on the upside on Friday, eventually ending the session at $9.32, with a gain of 2.98% or 0.27 points. The heightened volatility saw the trading volume jump to 28,216 shares. Company has a market cap of $218 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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