Codexis, Inc. (NASDAQ:CDXS) Given Average Rating of “Moderate Buy” by Brokerages

Codexis, Inc. (NASDAQ:CDXS) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.80.

A number of research firms have commented on CDXS. StockNews.com upgraded Codexis to a “sell” rating in a research note on Tuesday, March 5th. Benchmark raised Codexis from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Thursday, February 29th.

Institutional Investors Weigh In On Codexis

Several institutional investors have recently made changes to their positions in CDXS. GSA Capital Partners LLP purchased a new stake in Codexis during the third quarter valued at about $786,000. Assenagon Asset Management S.A. grew its stake in shares of Codexis by 156.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,753,443 shares of the biotechnology company’s stock worth $3,314,000 after purchasing an additional 1,071,002 shares during the last quarter. FMR LLC grew its stake in shares of Codexis by 153.7% in the third quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock worth $8,194,000 after purchasing an additional 2,626,400 shares during the last quarter. Algert Global LLC lifted its holdings in Codexis by 8.9% in the third quarter. Algert Global LLC now owns 107,080 shares of the biotechnology company’s stock worth $202,000 after buying an additional 8,720 shares during the period. Finally, Barclays PLC lifted its holdings in Codexis by 262.6% in the third quarter. Barclays PLC now owns 155,055 shares of the biotechnology company’s stock worth $294,000 after buying an additional 112,289 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Trading Down 3.4 %

NASDAQ:CDXS opened at $2.80 on Friday. The stock has a market cap of $196.84 million, a price-to-earnings ratio of -2.52 and a beta of 2.01. The stock has a 50-day moving average price of $3.32 and a two-hundred day moving average price of $2.72. Codexis has a 1 year low of $1.45 and a 1 year high of $4.91.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.18. The firm had revenue of $26.56 million during the quarter, compared to analysts’ expectations of $24.73 million. Codexis had a negative return on equity of 47.58% and a negative net margin of 108.69%. Sell-side analysts forecast that Codexis will post -0.6 earnings per share 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.