Codexis, Inc. (NASDAQ:CDXS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Codexis, Inc. (NASDAQ:CDXS) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $7.14.

Several analysts recently commented on the stock. Benchmark reiterated a “buy” rating and issued a $9.00 price target on shares of Codexis in a research report on Friday, May 3rd. Jefferies Financial Group started coverage on shares of Codexis in a report on Monday, June 3rd. They issued a “buy” rating and a $5.00 target price for the company. Finally, Cantor Fitzgerald assumed coverage on Codexis in a report on Thursday, May 30th. They set an “overweight” rating and a $11.00 price target on the stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings 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 purchasing an additional 5,050 shares during the last quarter. Private Advisor Group LLC increased its holdings in Codexis by 3.9% during the 4th quarter. Private Advisor Group LLC now owns 189,486 shares of the biotechnology company’s stock valued at $578,000 after acquiring an additional 7,065 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Codexis by 57.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after acquiring an additional 10,395 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Codexis by 674.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 13,203 shares during the last quarter. Finally, Perkins Capital Management Inc. increased its stake in shares of Codexis by 106.2% during the 4th quarter. Perkins Capital Management Inc. now owns 46,600 shares of the biotechnology company’s stock worth $142,000 after purchasing an additional 24,000 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Price Performance

Shares of CDXS opened at $2.88 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.71 and a quick ratio of 3.63. Codexis has a 1-year low of $1.45 and a 1-year high of $4.91. The stock has a market cap of $203.21 million, a PE ratio of -3.10 and a beta of 2.12. The firm has a fifty day moving average price of $3.25 and a 200 day moving average price of $3.17.

Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $17.07 million for the quarter, compared to the consensus estimate of $14.06 million. Codexis had a negative return on equity of 41.76% and a negative net margin of 87.73%. As a group, sell-side analysts anticipate that Codexis will post -0.63 EPS for the current year.

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.