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

Codexis, Inc. (NASDAQ:CDXS) has received a consensus rating of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $7.33.

Several research analysts recently commented on the stock. Benchmark reiterated a “buy” rating and set a $9.00 price objective on shares of Codexis in a research note on Friday, May 3rd. Cantor Fitzgerald started coverage on Codexis in a report on Thursday, May 30th. They set an “overweight” rating and a $11.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on Codexis in a research note on Monday, June 3rd. They set a “buy” rating and a $5.00 target price on the stock.

Codexis Trading Down 5.2 %

CDXS opened at $3.30 on Monday. The company has a current ratio of 3.71, a quick ratio of 3.63 and a debt-to-equity ratio of 0.35. The firm has a market cap of $232.84 million, a price-to-earnings ratio of -3.55 and a beta of 2.12. Codexis has a 12 month low of $1.45 and a 12 month high of $4.91. The stock has a fifty day moving average price of $3.25 and a 200-day moving average price of $3.23.

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

Institutional Investors Weigh In On Codexis

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in Codexis by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 108,594 shares of the biotechnology company’s stock valued at $337,000 after purchasing an additional 4,017 shares during the last quarter. Private Advisor Group LLC increased its holdings in Codexis by 3.9% in the 4th quarter. Private Advisor Group LLC now owns 189,486 shares of the biotechnology company’s stock worth $578,000 after buying an additional 7,065 shares during the period. State Board of Administration of Florida Retirement System raised its position in Codexis by 57.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after buying an additional 10,395 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Codexis by 674.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 13,203 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Codexis by 72.6% in the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 15,425 shares during the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.

Codexis Company Profile

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.