Codexis (NASDAQ:CDXS) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.
Other analysts have also recently issued reports about the company. HC Wainwright set a $12.00 price objective on Codexis and gave the company a “buy” rating in a research note on Monday, March 12th. ValuEngine upgraded Codexis from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded Codexis from a “sell” rating to a “hold” rating and set a $14.00 price objective on the stock in a research note on Wednesday, May 9th. Cowen started coverage on Codexis in a research note on Tuesday. They issued an “outperform” rating and a $18.00 price objective on the stock. Finally, Stephens started coverage on Codexis in a research note on Wednesday, May 16th. They issued an “overweight” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the company. Codexis has an average rating of “Buy” and a consensus price target of $14.20.
Codexis opened at $15.70 on Wednesday, according to Marketbeat Ratings. Codexis has a 52 week low of $4.70 and a 52 week high of $15.98. The firm has a market cap of $822.56 million, a PE ratio of -31.40 and a beta of -1.63. The company has a quick ratio of 1.61, a current ratio of 1.67 and a debt-to-equity ratio of 0.02.
Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, May 10th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $14.04 million during the quarter, compared to analyst estimates of $13.50 million. Codexis had a negative net margin of 36.06% and a negative return on equity of 87.65%. equities research analysts predict that Codexis will post -0.27 earnings per share for the current fiscal year.
In other news, Director David V. Smith sold 6,000 shares of the stock in a transaction on Tuesday, April 3rd. The stock was sold at an average price of $10.37, for a total value of $62,220.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dennis P. Wolf sold 41,666 shares of the stock in a transaction on Tuesday, March 27th. The shares were sold at an average price of $11.15, for a total value of $464,575.90. Following the completion of the sale, the director now owns 157,920 shares in the company, valued at $1,760,808. The disclosure for this sale can be found here. Over the last quarter, insiders sold 212,636 shares of company stock worth $2,688,374. Insiders own 11.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Marco Investment Management LLC acquired a new stake in Codexis in the first quarter valued at $132,000. Citadel Advisors LLC acquired a new stake in Codexis in the first quarter valued at $138,000. Trexquant Investment LP acquired a new stake in Codexis in the first quarter valued at $148,000. Burney Co. acquired a new stake in Codexis in the fourth quarter valued at $167,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Codexis in the fourth quarter valued at $179,000. Institutional investors own 65.89% of the company’s stock.
Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.
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