Shares of Codexis, Inc. (NASDAQ:CDXS) have been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $22.30.
A number of brokerages have issued reports on CDXS. Zacks Investment Research downgraded Codexis from a “hold” rating to a “sell” rating in a research report on Monday, August 12th. BidaskClub downgraded Codexis from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $22.50 price target on shares of Codexis in a research report on Thursday, August 8th.
In other news, Director Patrick Y. Yang bought 30,000 shares of Codexis stock in a transaction on Friday, August 30th. The stock was acquired at an average price of $8.74 per share, with a total value of $262,200.00. Following the completion of the acquisition, the director now directly owns 133,070 shares of the company’s stock, valued at $1,163,031.80. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick Y. Yang bought 6,000 shares of Codexis stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $13.97 per share, with a total value of $83,820.00. Following the acquisition, the director now directly owns 76,764 shares of the company’s stock, valued at $1,072,393.08. The disclosure for this purchase can be found here. Insiders have acquired 58,000 shares of company stock valued at $634,300 in the last three months. Insiders own 10.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. Capital Investment Advisory Services LLC acquired a new stake in shares of Codexis in the second quarter valued at approximately $37,000. Tower Research Capital LLC TRC acquired a new stake in shares of Codexis in the second quarter valued at approximately $41,000. Quantamental Technologies LLC acquired a new stake in shares of Codexis in the second quarter valued at approximately $44,000. Aperio Group LLC acquired a new stake in shares of Codexis in the second quarter valued at approximately $98,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Codexis by 13.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,093 shares of the biotechnology company’s stock valued at $207,000 after purchasing an additional 1,186 shares during the last quarter. 87.00% of the stock is owned by institutional investors and hedge funds.
Shares of CDXS stock opened at $14.03 on Tuesday. The company has a market capitalization of $788.42 million, a P/E ratio of -66.81 and a beta of -0.02. The business’s 50 day moving average is $15.47 and its two-hundred day moving average is $18.59. The company has a current ratio of 6.30, a quick ratio of 6.26 and a debt-to-equity ratio of 0.26. Codexis has a 12-month low of $12.68 and a 12-month high of $23.05.
Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). The business had revenue of $12.32 million for the quarter, compared to analysts’ expectations of $14.90 million. Codexis had a negative return on equity of 21.60% and a negative net margin of 23.13%. On average, research analysts predict that Codexis will post -0.21 earnings per share for the current fiscal year.
Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.
Featured Article: Earnings Per Share
Receive News & Ratings for Codexis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Codexis and related companies with MarketBeat.com's FREE daily email newsletter.