Codexis (NASDAQ:CDXS) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Codexis (NASDAQ:CDXS) from a hold rating to a sell rating in a research note released on Saturday.

Several other equities analysts also recently commented on the stock. Weiss Ratings upgraded shares of Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Codexis in a research note on Wednesday, June 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.00.

Codexis Stock Performance

CDXS opened at $1.56 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.06 and a quick ratio of 5.23. The business has a fifty day simple moving average of $2.09 and a 200 day simple moving average of $1.97. Codexis has a 1 year low of $0.96 and a 1 year high of $3.25. The company has a market capitalization of $170.84 million, a PE ratio of -4.59 and a beta of 2.54.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. Codexis had a negative return on equity of 74.36% and a negative net margin of 39.55%.The firm had revenue of $14.91 million for the quarter, compared to analysts’ expectations of $13.82 million. Research analysts expect that Codexis will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Codexis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDXS. Royal Bank of Canada lifted its position in shares of Codexis by 24.9% during the 1st quarter. Royal Bank of Canada now owns 437,126 shares of the biotechnology company’s stock valued at $1,176,000 after acquiring an additional 87,044 shares during the period. Geode Capital Management LLC increased its position in shares of Codexis by 2.7% in the second quarter. Geode Capital Management LLC now owns 1,977,869 shares of the biotechnology company’s stock worth $4,827,000 after purchasing an additional 52,588 shares during the period. Rhumbline Advisers increased its position in shares of Codexis by 25.9% in the second quarter. Rhumbline Advisers now owns 135,556 shares of the biotechnology company’s stock worth $331,000 after purchasing an additional 27,897 shares during the period. XTX Topco Ltd acquired a new position in Codexis in the second quarter valued at about $116,000. Finally, Invesco Ltd. raised its stake in Codexis by 42.4% in the second quarter. Invesco Ltd. now owns 96,078 shares of the biotechnology company’s stock valued at $234,000 after purchasing an additional 28,631 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

About Codexis

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.