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PFNX

Pfenex

$8.98

-0.18 (-1.97%)

06:11
09/11/19
09/11
06:11
09/11/19
06:11

Pfenex price target raised to $17 from $13 at JMP Securities

JMP Securities analyst Jason Butler raised his price target on Pfenex to $17 and kept his Outperform rating, saying its platform potential is becoming increasingly "visible and validated". The analyst cites the company's lead candidate PF708 progressing toward approval, with a possible Q4 commercial launch. Butler notes that Pfenex now has the opportunity for increased focus on additional pipeline programs such as PF743/PF745 and CRM197, which have "already demonstrated value."

  • 07

    Oct

PFNX Pfenex
$8.98

-0.18 (-1.97%)

03/11/19
WBLR
03/11/19
NO CHANGE
WBLR
Outperform
William Blair sum-of-the-parts analysis yields $19.80 value for Pfenex
The majority of Pfenex (PFNX) investor focus has been placed on lead asset PF708, the therapeutic equivalent product candidate to Forteo, William Blair analyst Andy Hsieh tells investors in a research note, citing his talks with clients. The analyst, however, sees "potential for significant value" from the company's collaboration with Jazz Pharmaceuticals (JAZZ). The deal with Jazz could provide patients with an alternative to Erwinaze/Erwinase, which currently suffers from significant supply constraints, and CRM197, a carrier protein that is incorporated as an adjuvant in several vaccine candidates, including Merck's (MRK) pneumococcal vaccine, V114, Hsieh writes. Based on these royalties, the analyst conducted a sum-of-the-parts analysis for Pfenex based on discounted cash flow, and the resulting net present value yielded a value of $19.80 per share. The stock closed Monday at $4.26. The analyst believes the company's "value-creating" catalysts this year, including milestone payment from Jazz for the successful tech transfer of PF743 and PF745 and the approval of PF708, coupled with his valuation analysis, affirm his bullish thesis. Hsieh believes Pfenex shares offer one of the best risk/reward symmetries in small-cap biotech and reiterates an Outperform rating on the name.
04/02/19
JMPS
04/02/19
NO CHANGE
Target $13
JMPS
Outperform
BARDA decision has no negative read through for Pfenex, says JMP Securities
After Pfenex disclosed that it received notice that BARDA has decided not to exercise its options to fund further development of anthrax vaccine candidates, Px563L and RPA563, JMP Securities analyst Jason Butler said his talks with management indicate that BARDA's decision was largely due to re-prioritization of its vaccine programs and the need to focus on threats beyond anthrax. He sees no negative read on the company's anthrax vaccines programs from this decision, which also raises no question of read-through to other programs or the platform, in his view. Butler reiterates an Outperform rating and $13 price target on Pfenex shares.
04/02/19
WBLR
04/02/19
NO CHANGE
WBLR
Outperform
BARDA decision does not change bullish Pfenex thesis, says William Blair
Biomedical Advanced Research and Development Authority's decision not to exercise development options for Pfenex's novel anthrax vaccine candidates has no material impact to the bullish view on the company's proprietary protein expression platform, William Blair analyst Andy Hsieh tells investors in a research note. The analyst notes the company's anthrax programs were not included in his fair value assessment. He reminds investors that the previous development of the anthrax assets have been fully funded by BARDA, and therefore, the announcement should not have any material impact on the company's financials. Hsieh keeps an Outperform rating on Pfenex.
04/02/19
WELS
04/02/19
NO CHANGE
Target $68
WELS
Market Perform
BARDA passing on Pfenex good news for Emergent, says Wells Fargo
The decision by the Department of Health and Human Services' Biomedical Advanced Research and Development Authority not to exercise development options on Pfenex's (PFNX) anthrax program is good news for Emergent BioSolutions (EBS), Wells Fargo analyst David Maris tells investors in a research note. Emergent currently sells BioThrax, a vaccine indicated for the active immunization for the prevention of disease caused by anthrax, Maris points out. In addition, NuThrax is the company's most important pipeline product as it represents an improvement on BioThrax, says the analyst. He sees the move by BARDA on the Pfenex program as underscoring its belief in the BioThrax and NuThrax programs. Maris keeps a Market Perform rating on Emergent BioSolutions with a $68 price target. The stock in early trading is up 58c to $50.81.

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