Barclays Sticks to Their Buy Rating for Pfenex

By Ryan Adsit

Barclays analyst Douglas Tsao maintained a Buy rating on Pfenex (NYSEArca: PFNX) yesterday and set a price target of $8. The company’s shares closed on Wednesday at $6, close to its 52-week high of $6.77.

According to TipRanks.com, Tsao is a 3-star analyst with an average return of 2.4% and a 53.5% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Pacira Pharmaceuticals, Endo International, and Oncobiologics Inc.

Pfenex has an analyst consensus of Hold.

Based on Pfenex’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $17.91 million and quarterly net profit of $5.49 million. In comparison, last year the company earned revenue of $5.47 million and had a GAAP net loss of $10.64 million.

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Pfênex, Inc. is a clinical-stage biotechnology company, which engages in the research, development, and commercialization of pharmaceutical products. Its portfolio includes biosimilars and vaccines. The company was founded on November 19, 2009 and is headquartered in San Diego, CA.