Codexis (NASDAQ:CDXS) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Other research analysts also recently issued research reports about the stock. Craig Hallum lifted their target price on shares of Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. Cowen assumed coverage on shares of Codexis in a report on Tuesday, June 19th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Codexis from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, August 16th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $15.50.
Shares of CDXS opened at $15.33 on Friday. The firm has a market capitalization of $917.74 million, a P/E ratio of -30.66 and a beta of -2.07. Codexis has a one year low of $5.70 and a one year high of $19.60.
Codexis (NASDAQ:CDXS) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The firm had revenue of $13.54 million for the quarter, compared to the consensus estimate of $11.87 million. Codexis had a negative net margin of 29.83% and a negative return on equity of 61.93%. On average, analysts expect that Codexis will post -0.2 earnings per share for the current fiscal year.
In other Codexis news, insider John J. Nicols sold 14,259 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $15.14, for a total value of $215,881.26. Following the sale, the insider now directly owns 1,084,538 shares in the company, valued at approximately $16,419,905.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick Y. Yang sold 150,340 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $14.45, for a total transaction of $2,172,413.00. Following the completion of the sale, the director now owns 120,896 shares in the company, valued at $1,746,947.20. The disclosure for this sale can be found here. Insiders sold a total of 583,329 shares of company stock worth $9,513,697 in the last quarter. Insiders own 11.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CDXS. BlackRock Inc. grew its position in Codexis by 27.3% in the 2nd quarter. BlackRock Inc. now owns 3,402,575 shares of the biotechnology company’s stock worth $48,996,000 after purchasing an additional 729,552 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Codexis in the 1st quarter worth $7,544,000. FMR LLC acquired a new stake in Codexis in the 2nd quarter worth $7,452,000. Castleark Management LLC acquired a new stake in Codexis in the 2nd quarter worth $6,239,000. Finally, Baillie Gifford & Co. grew its position in Codexis by 14.9% in the 2nd quarter. Baillie Gifford & Co. now owns 2,646,240 shares of the biotechnology company’s stock worth $38,107,000 after purchasing an additional 343,261 shares during the last quarter. Institutional investors own 77.35% of the company’s stock.
Codexis Company Profile
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.
Read More: Intrinsic Value
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