Codexis (NASDAQ:CDXS) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Codexis (NASDAQ:CDXS) in a research report report published on Friday morning, Benzinga reports. Cantor Fitzgerald currently has a $11.00 price objective on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Codexis in a report on Monday, June 3rd. They set a buy rating and a $5.00 target price on the stock. Benchmark cut Codexis from a buy rating to a hold rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Codexis currently has an average rating of Hold and a consensus price target of $8.75.

Codexis Stock Performance

Shares of NASDAQ:CDXS opened at $3.10 on Friday. The business has a 50-day moving average of $3.11 and a two-hundred day moving average of $3.20. The firm has a market capitalization of $218.73 million, a PE ratio of -3.39 and a beta of 2.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.99 and a quick ratio of 2.92. Codexis has a 12 month low of $1.45 and a 12 month high of $4.91.

Codexis (NASDAQ:CDXS) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The business had revenue of $7.98 million for the quarter, compared to analyst estimates of $7.64 million. Codexis had a negative return on equity of 64.06% and a negative net margin of 125.41%. During the same period last year, the company posted ($0.17) EPS. As a group, research analysts forecast that Codexis will post -0.75 earnings per share for the current year.

Insider Activity at Codexis

In other news, major shareholder Opaleye Management Inc. acquired 61,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was bought at an average cost of $3.16 per share, with a total value of $192,760.00. Following the transaction, the insider now directly owns 7,380,000 shares in the company, valued at approximately $23,320,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Codexis

Institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP increased its stake in shares of Codexis by 101.2% in the fourth quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock worth $2,553,000 after buying an additional 420,977 shares during the last quarter. Opaleye Management Inc. raised its stake in shares of Codexis by 172.2% in the 4th quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock valued at $9,289,000 after purchasing an additional 1,926,625 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Codexis by 0.8% during the first quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock worth $12,024,000 after purchasing an additional 26,216 shares during the last quarter. Private Advisor Group LLC grew its stake in Codexis by 22.1% in the first quarter. Private Advisor Group LLC now owns 231,341 shares of the biotechnology company’s stock worth $807,000 after purchasing an additional 41,855 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Codexis in the first quarter valued at about $97,000. 78.54% of the stock is owned by institutional investors and hedge funds.

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.