Codexis, Inc. (NASDAQ:CDXS) Receives $6.80 Average PT from Analysts

Codexis, Inc. (NASDAQ:CDXS) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $6.80.

Several equities analysts have recently commented on the company. StockNews.com upgraded Codexis to a “sell” rating in a research note on Tuesday, March 5th. Benchmark upgraded Codexis from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Thursday, February 29th.

Codexis Stock Up 0.4 %

Shares of NASDAQ CDXS opened at $2.66 on Friday. Codexis has a fifty-two week low of $1.45 and a fifty-two week high of $4.91. The business has a 50 day moving average price of $3.30 and a two-hundred day moving average price of $2.73. The firm has a market cap of $187.01 million, a PE ratio of -2.40 and a beta of 2.01.

Codexis (NASDAQ:CDXS) last released its earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.18. The company had revenue of $26.56 million during the quarter, compared to analysts’ expectations of $24.73 million. Codexis had a negative return on equity of 47.58% and a negative net margin of 108.69%. On average, analysts anticipate that Codexis will post -0.6 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in shares of Codexis during the third quarter valued at $786,000. Assenagon Asset Management S.A. boosted its stake in Codexis by 156.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,753,443 shares of the biotechnology company’s stock valued at $3,314,000 after purchasing an additional 1,071,002 shares during the period. FMR LLC grew its position in Codexis by 153.7% in the 3rd quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock worth $8,194,000 after purchasing an additional 2,626,400 shares during the last quarter. Algert Global LLC increased its stake in shares of Codexis by 8.9% in the third quarter. Algert Global LLC now owns 107,080 shares of the biotechnology company’s stock valued at $202,000 after purchasing an additional 8,720 shares during the period. Finally, Barclays PLC raised its holdings in shares of Codexis by 262.6% during the third quarter. Barclays PLC now owns 155,055 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 112,289 shares during the last quarter. 78.54% of the stock is currently owned by 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.