Codexis (NASDAQ:CDXS) Upgraded at Zacks Investment Research

Codexis (NASDAQ:CDXS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, February 15th.

According to Zacks, “Codexis, Inc. is a leading protein engineering company that applies its technology to the development of biocatalysts for the commercial manufacture of pharmaceuticals and fine chemicals. Codexis’ proven technology enables implementation of biocatalytic solutions to meet customer needs for rapid, cost-effective and sustainable manufacturing. “

A number of other equities analysts also recently issued reports on the company. BidaskClub raised Codexis from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. HC Wainwright restated a “buy” rating and set a $8.50 price objective on shares of Codexis in a research note on Tuesday, November 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Codexis currently has a consensus rating of “Buy” and a consensus target price of $8.58.

Codexis (NASDAQ:CDXS) opened at $9.10 on Thursday. Codexis has a 12-month low of $3.60 and a 12-month high of $9.45.

Several large investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC purchased a new position in shares of Codexis in the fourth quarter worth about $179,000. Two Sigma Investments LP acquired a new stake in Codexis during the fourth quarter worth about $518,000. Goldman Sachs Group Inc. grew its holdings in Codexis by 57.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 41,931 shares of the biotechnology company’s stock worth $350,000 after acquiring an additional 15,363 shares during the period. Deutsche Bank AG grew its holdings in Codexis by 67.0% during the fourth quarter. Deutsche Bank AG now owns 107,089 shares of the biotechnology company’s stock worth $890,000 after acquiring an additional 42,955 shares during the period. Finally, Telemark Asset Management LLC grew its holdings in Codexis by 58.5% during the fourth quarter. Telemark Asset Management LLC now owns 3,250,000 shares of the biotechnology company’s stock worth $27,138,000 after acquiring an additional 1,200,000 shares during the period. Hedge funds and other institutional investors own 69.91% of the company’s stock.

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Codexis Company Profile

Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.

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