DB:26P

Stock Analysis Report

Executive Summary

Pfenex Inc., a clinical-stage development and licensing biotechnology company, focuses on developing protein therapies for unmet patient needs.


Snowflake Analysis

High growth potential with adequate balance sheet.


Similar Companies

Share Price & News

How has Pfenex's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 26P's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-6.6%

26P

-4.3%

DE Biotechs

-4.7%

DE Market


1 Year Return

214.9%

26P

5.5%

DE Biotechs

8.3%

DE Market

Return vs Industry: 26P exceeded the German Biotechs industry which returned 5.5% over the past year.

Return vs Market: 26P exceeded the German Market which returned 8.3% over the past year.


Shareholder returns

26PIndustryMarket
7 Day-6.6%-4.3%-4.7%
30 Day12.9%-6.7%-4.0%
90 Day31.8%0.4%-1.4%
1 Year214.9%214.9%5.8%5.5%11.7%8.3%
3 Year72.7%72.7%40.9%39.4%11.4%1.6%
5 Year-13.0%-13.0%10.9%8.6%15.1%-0.7%

Price Volatility Vs. Market

How volatile is Pfenex's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Pfenex undervalued compared to its fair value and its price relative to the market?

30.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 26P (€11.4) is trading below our estimate of fair value (€16.38)

Significantly Below Fair Value: 26P is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 26P is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: 26P is unprofitable, so we can't compare its PE Ratio to the German market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 26P's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 26P is overvalued based on its PB Ratio (7.2x) compared to the DE Biotechs industry average (3.5x).


Next Steps

Future Growth

How is Pfenex forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

47.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 26P is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (-0.4%).

Earnings vs Market: 26P is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 26P's is expected to become profitable in the next 3 years.

Revenue vs Market: 26P's revenue (24% per year) is forecast to grow faster than the German market (5.1% per year).

High Growth Revenue: 26P's revenue (24% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if 26P's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Pfenex performed over the past 5 years?

-15.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 26P is currently unprofitable.

Growing Profit Margin: 26P is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 26P is unprofitable, and losses have increased over the past 5 years at a rate of -15.4% per year.

Accelerating Growth: Unable to compare 26P's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 26P is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (-4.7%).


Return on Equity

High ROE: 26P has a negative Return on Equity (-26.92%), as it is currently unprofitable.


Next Steps

Financial Health

How is Pfenex's financial position?


Financial Position Analysis

Short Term Liabilities: 26P's short term assets ($51.3M) exceed its short term liabilities ($11.0M).

Long Term Liabilities: 26P's short term assets ($51.3M) exceed its long term liabilities ($2.5M).


Debt to Equity History and Analysis

Debt Level: 26P is debt free.

Reducing Debt: 26P has no debt compared to 5 years ago when its debt to equity ratio was 6%.


Balance Sheet

Inventory Level: 26P has a low level of unsold assets or inventory.

Debt Coverage by Assets: 26P's debt is not covered by short term assets (assets are -9.2491326267233E+17x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 26P has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if 26P has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Pfenex's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 26P's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 26P's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 26P's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 26P's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 26P's dividend in 3 years as they are not forecast to pay a notable one for the German market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

Eef Schimmelpennink (47yo)

2.5yrs

Tenure

US$1,606,610

Compensation

Mr. Evert Schimmelpennink, also known as Eef, has been Chief Executive Officer, President and Secretary of Pfenex Inc. since August 3, 2017. Mr. Schimmelpennink serves as Principal Financial and Accounting ...


CEO Compensation Analysis

Compensation vs Market: Eef's total compensation ($USD1.61M) is above average for companies of similar size in the German market ($USD805.15K).

Compensation vs Earnings: Eef's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Evert Schimmelpennink
CEO, President2.5yrsUS$1.61m0.084% $311.7k
Patrick Lucy
Senior VP & Chief Business Officer11.1yrsUS$660.70k0.28% $1.0m
Shawn Scranton
Senior VP & COO1.3yrsno datano data
Martin Brenner
Senior VP & Chief Scientific Officer0.9yrsno datano data

1.9yrs

Average Tenure

49.5yo

Average Age

Experienced Management: 26P's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Evert Schimmelpennink
CEO, President2.5yrsUS$1.61m0.084% $311.7k
Phillip Schneider
Independent Director5.6yrsUS$131.41k0.035% $128.6k
Dennis Fenton
Member of Scientific Advisory Board1yrsUS$23.33kno data
Robin Campbell
Independent Director5.4yrsUS$127.41k0.016% $58.4k
Robert Peach
Member of Scientific Advisory Board0.8yrsno datano data
John Taylor
Independent Director4.8yrsUS$117.41kno data
Magda Marquet
Independent Director1yrsno datano data
Matthew Croughan
Member of Scientific Advisory Board3.3yrsno datano data
Jason Grenfell-Gardner
Independent Chairman of the Board2.8yrsUS$139.75k0.032% $116.9k
Greg Blank
Member of Scientific Advisory Board3.3yrsno datano data

3.0yrs

Average Tenure

61.5yo

Average Age

Experienced Board: 26P's board of directors are considered experienced (3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 19.6%.


Top Shareholders

Company Information

Pfenex Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pfenex Inc.
  • Ticker: 26P
  • Exchange: DB
  • Founded:
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$401.967m
  • Listing Market Cap: US$370.332m
  • Shares outstanding: 31.68m
  • Website: https://www.pfenex.com

Number of Employees


Location

  • Pfenex Inc.
  • 10790 Roselle Street
  • San Diego
  • California
  • 92121
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PFNXAMEX (NYSE MKT LLC)YesCommon StockUSUSDJul 2014
26PDB (Deutsche Boerse AG)YesCommon StockDEEURJul 2014

Biography

Pfenex Inc., a clinical-stage development and licensing biotechnology company, focuses on developing protein therapies for unmet patient needs. Its lead product candidates include PF708, a therapeutic equivalent drug candidate to Forteo (teriparatide) for the treatment of osteoporosis; and novel anthrax vaccine candidates, such as Px563L and RPA563 that have completed Phase Ia clinical study. The company also develops PF582, a biosimilar candidate to Lucentis; PF529, a biosimilar to Neulasta; and hematology/oncology products, including PF743, a recombinant crisantaspase, as well as PF745, a recombinant crisantaspase with half-life extension technology. In addition, it has license and supply agreements for CRM197, a non-toxic mutant of diphtheria toxin. Pfenex Inc. is headquartered in San Diego, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/24 22:32
End of Day Share Price2020/02/24 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.