Codexis (NASDAQ:CDXS) Rating Reiterated by Benchmark

Codexis (NASDAQ:CDXS)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a research report issued on Friday, Benzinga reports. They currently have a $9.00 price objective on the biotechnology company’s stock. Benchmark’s price objective would suggest a potential upside of 129.59% from the company’s current price.

Separately, StockNews.com upgraded Codexis to a “sell” rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Codexis presently has an average rating of “Hold” and an average target price of $6.80.

Codexis Price Performance

Shares of Codexis stock traded up $0.58 during mid-day trading on Friday, hitting $3.92. 1,702,797 shares of the stock were exchanged, compared to its average volume of 383,245. Codexis has a twelve month low of $1.45 and a twelve month high of $4.91. The company has a 50-day simple moving average of $3.33 and a 200 day simple moving average of $2.77.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.18. Codexis had a negative return on equity of 39.53% and a negative net margin of 87.73%. The company had revenue of $26.56 million during the quarter, compared to the consensus estimate of $24.73 million. Equities analysts predict that Codexis will post -0.6 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in Codexis by 19.1% during the fourth quarter. SG Americas Securities LLC now owns 31,442 shares of the biotechnology company’s stock worth $96,000 after buying an additional 5,050 shares during the period. 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 valued at $578,000 after purchasing an additional 7,065 shares in the last quarter. Algert Global LLC increased its holdings in Codexis by 8.9% in the 3rd 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 in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of 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 buying an additional 13,203 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new position in Codexis during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 78.54% of the company’s stock.

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.