Codexis (NASDAQ:CDXS) Upgraded at Wall Street Zen

Codexis (NASDAQ:CDXS) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

CDXS has been the subject of several other reports. Weiss Ratings raised shares of Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 23rd. Piper Sandler reduced their target price on Codexis from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of Codexis in a research note on Thursday, August 20th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Codexis presently has an average rating of “Hold” and a consensus price target of $6.50.

Codexis Trading Up 21.1%

Shares of CDXS stock opened at $1.16 on Friday. Codexis has a fifty-two week low of $0.90 and a fifty-two week high of $2.98. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.99 and a current ratio of 3.06. The stock has a 50 day simple moving average of $1.29 and a two-hundred day simple moving average of $1.78. The company has a market cap of $127.03 million, a P/E ratio of -5.80 and a beta of 2.38.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, November 12th. The biotechnology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02. Codexis had a negative net margin of 21.77% and a negative return on equity of 45.54%. The company had revenue of $19.26 million during the quarter, compared to the consensus estimate of $18.72 million. Research analysts forecast that Codexis will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Codexis

Institutional investors have recently modified their holdings of the business. EP Wealth Advisors LLC bought a new stake in shares of Codexis during the 2nd quarter worth $35,000. Corient Private Wealth LP bought a new position in Codexis during the second quarter valued at about $37,000. Simplicity Wealth LLC purchased a new stake in Codexis during the second quarter worth about $39,000. The Manufacturers Life Insurance Company purchased a new stake in Codexis during the second quarter worth about $57,000. Finally, GSA Capital Partners LLP bought a new stake in Codexis in the second quarter worth about $94,000. 78.54% of the stock is owned by institutional investors.

Codexis Company Profile

Codexis, Inc. is a biotechnology company that develops engineered enzymes for pharmaceutical and other manufacturing applications. Founded in 2002 and based in Redwood City, California, the company uses its protein-engineering platform, CodeEvolver, to design enzymes with properties suited to specific production processes. Codexis supplies enzymes and related development services for the manufacture of small-molecule drugs and other products. It also develops its ECO Synthesis platform, which uses enzymes to support the production of oligonucleotide therapeutics, including RNA-based medicines.