BlackRock Advisors LLC decreased its stake in Pfenex Inc. (NYSEMKT:PFNX) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 791,734 shares of the company’s stock after selling 6,107 shares during the period. BlackRock Advisors LLC owned 3.39% of Pfenex worth $6,627,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in PFNX. Sanders Morris Harris Inc. boosted its position in Pfenex by 94.1% in the second quarter. Sanders Morris Harris Inc. now owns 361,657 shares of the company’s stock valued at $3,027,000 after buying an additional 175,343 shares in the last quarter. Franklin Resources Inc. boosted its position in Pfenex by 2.3% in the first quarter. Franklin Resources Inc. now owns 3,659,328 shares of the company’s stock valued at $35,971,000 after buying an additional 82,605 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Pfenex during the second quarter valued at $648,000. Oxford Asset Management boosted its position in Pfenex by 48.5% in the second quarter. Oxford Asset Management now owns 96,232 shares of the company’s stock valued at $805,000 after buying an additional 31,411 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in Pfenex by 211.5% in the second quarter. Nationwide Fund Advisors now owns 32,737 shares of the company’s stock valued at $274,000 after buying an additional 22,228 shares in the last quarter.
Shares of Pfenex Inc. (NYSEMKT:PFNX) opened at 9.42 on Friday. Pfenex Inc. has a 1-year low of $5.78 and a 1-year high of $18.23. The firm’s 50-day moving average price is $8.42 and its 200 day moving average price is $8.38. The stock’s market capitalization is $220.30 million.
Pfenex (NYSEMKT:PFNX) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.47) by $0.04. The company had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.55 million. During the same period in the prior year, the business earned ($0.27) EPS. The business’s quarterly revenue was up 34.8% compared to the same quarter last year. Equities research analysts expect that Pfenex Inc. will post ($1.92) earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised Pfenex from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Tuesday, July 12th. Mizuho decreased their price target on Pfenex from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th.
Pfenex Inc is a clinical-stage biotechnology company. The Company is engaged in the development of biosimilar and therapeutic equivalent products to branded therapeutics and other high-value and difficult-to-manufacture proteins. Its lead product candidate is PF582, a biosimilar candidate to Lucentis (ranibizumab).
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