Codexis (NASDAQ:CDXS) Earns Overweight Rating from Cantor Fitzgerald

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

Separately, Benchmark reissued a “hold” rating on shares of Codexis in a report on Monday, November 4th.

Codexis Price Performance

Shares of NASDAQ:CDXS opened at $4.55 on Friday. The firm’s 50 day moving average is $3.45 and its two-hundred day moving average is $3.26. The firm has a market capitalization of $370.28 million, a P/E ratio of -5.23 and a beta of 2.07. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. Codexis has a 52 week low of $1.85 and a 52 week high of $4.91.

Codexis (NASDAQ:CDXS) last posted its earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. The business had revenue of $12.83 million during the quarter, compared to analyst estimates of $11.64 million. During the same quarter in the prior year, the business earned ($0.26) earnings per share. Analysts anticipate that Codexis will post -0.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. bought 1,055,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average cost of $3.01 per share, for a total transaction of $3,175,550.00. Following the acquisition, the insider now directly owns 8,390,000 shares of the company’s stock, valued at $25,253,900. The trade was a 14.38 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders have acquired 1,166,000 shares of company stock worth $3,514,910. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Codexis

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC increased its stake in Codexis by 51.1% in the 3rd quarter. Barclays PLC now owns 207,628 shares of the biotechnology company’s stock worth $640,000 after purchasing an additional 70,255 shares in the last quarter. Empire Financial Management Company LLC increased its position in shares of Codexis by 4.7% in the third quarter. Empire Financial Management Company LLC now owns 222,952 shares of the biotechnology company’s stock worth $687,000 after acquiring an additional 10,000 shares in the last quarter. Geode Capital Management LLC grew its position in Codexis by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,644,039 shares of the biotechnology company’s stock worth $5,065,000 after purchasing an additional 11,082 shares in the last quarter. State Street Corp grew its holdings in shares of Codexis by 2.7% during the third quarter. State Street Corp now owns 1,551,411 shares of the biotechnology company’s stock valued at $4,778,000 after buying an additional 41,480 shares in the last quarter. Finally, FMR LLC lifted its stake in Codexis by 1.2% in the 3rd quarter. FMR LLC now owns 4,497,090 shares of the biotechnology company’s stock worth $13,851,000 after acquiring an additional 51,822 shares in the last quarter. 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.