Brokerages Set Codexis, Inc. (NASDAQ:CDXS) Target Price at $22.30

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.

About Codexis

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.

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Analyst Recommendations for Codexis (NASDAQ:CDXS)

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