Codexis, Inc. (NASDAQ:CDXS) Receives Consensus Rating of “Moderate Buy” from Analysts

Codexis, Inc. (NASDAQ:CDXS) has received an average rating of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $7.33.

A number of brokerages have weighed in on CDXS. Jefferies Financial Group began coverage on shares of Codexis in a report on Monday, June 3rd. They set a “buy” rating and a $5.00 target price on the stock. Cantor Fitzgerald started coverage on shares of Codexis in a report on Thursday, May 30th. They issued an “overweight” rating and a $11.00 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Codexis in a report on Friday, May 3rd.

Codexis Stock Down 5.2 %

Shares of NASDAQ:CDXS opened at $3.30 on Monday. The stock has a market capitalization of $232.85 million, a price-to-earnings ratio of -3.55 and a beta of 2.12. Codexis has a 1-year low of $1.45 and a 1-year high of $4.91. The company’s fifty day moving average is $3.25 and its two-hundred day moving average is $3.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.63 and a current ratio of 3.71.

Codexis (NASDAQ:CDXS) last issued its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $17.07 million for the quarter, compared to analysts’ expectations of $14.06 million. Codexis had a negative net margin of 87.73% and a negative return on equity of 41.76%. Equities analysts anticipate that Codexis will post -0.63 EPS for the current year.

Institutional Trading of Codexis

Institutional investors have recently made changes to their positions in the stock. Opaleye Management Inc. lifted its position in Codexis by 172.2% in the fourth quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock worth $9,289,000 after purchasing an additional 1,926,625 shares during the period. Kent Lake Capital LLC acquired a new stake in Codexis in the first quarter worth approximately $2,197,000. GSA Capital Partners LLP lifted its position in Codexis by 101.2% in the fourth quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock worth $2,553,000 after purchasing an additional 420,977 shares during the period. Platinum Investment Management Ltd. acquired a new stake in Codexis in the first quarter worth approximately $802,000. Finally, abrdn plc acquired a new stake in Codexis in the fourth quarter worth approximately $490,000. 78.54% of the stock is owned by institutional investors and hedge funds.

About Codexis

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.