Codexis (NASDAQ:CDXS) Given “Buy” Rating at Benchmark

Codexis (NASDAQ:CDXS)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a note issued to investors on Friday, Benzinga reports. They presently have a $9.00 target price on the biotechnology company’s stock. Benchmark’s price objective indicates a potential upside of 129.59% from the stock’s previous close.

Separately, StockNews.com raised Codexis to a “sell” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Codexis has an average rating of “Hold” and a consensus price target of $6.80.

Codexis Trading Up 17.4 %

Shares of NASDAQ:CDXS traded up $0.58 during trading on Friday, hitting $3.92. 1,702,554 shares of the company were exchanged, compared to its average volume of 565,733. The stock has a market cap of $276.60 million, a price-to-earnings ratio of -3.53 and a beta of 2.04. Codexis has a fifty-two week low of $1.45 and a fifty-two week high of $4.91. The firm has a fifty day moving average price of $3.31 and a two-hundred day moving average price of $2.76.

Codexis (NASDAQ:CDXS) last posted its earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.18. The business had revenue of $26.56 million for the quarter, compared to analyst estimates of $24.73 million. Codexis had a negative return on equity of 47.58% and a negative net margin of 108.69%. As a group, research analysts predict that Codexis will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Codexis

Large investors have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in Codexis in the third quarter valued at about $786,000. Assenagon Asset Management S.A. increased 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 valued at $3,314,000 after buying an additional 1,071,002 shares during the period. FMR LLC increased 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 valued at $8,194,000 after buying an additional 2,626,400 shares during the period. Algert Global LLC increased its stake in shares of Codexis by 8.9% in the third quarter. Algert Global LLC now owns 107,080 shares of the biotechnology company’s stock valued at $202,000 after buying an additional 8,720 shares during the period. Finally, Barclays PLC increased its stake in shares of Codexis by 262.6% in the third quarter. Barclays PLC now owns 155,055 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 112,289 shares during the period. 78.54% of the stock is currently owned by institutional investors.

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.