Codexis, Inc. (NASDAQ:CDXS) Receives Average Recommendation of “Buy” from Brokerages

Share on StockTwits

Shares of Codexis, Inc. (NASDAQ:CDXS) have been assigned an average rating of “Buy” from the eight brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $22.30.

Several research firms recently issued reports on CDXS. BidaskClub lowered Codexis from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. ValuEngine upgraded Codexis from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. Zacks Investment Research lowered Codexis from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Craig Hallum raised their price target on Codexis from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Finally, HC Wainwright raised their price target on Codexis to $22.50 and gave the stock a “buy” rating in a research report on Monday, March 4th.

Shares of Codexis stock traded up $0.25 during trading on Thursday, hitting $18.55. 327,412 shares of the stock traded hands, compared to its average volume of 385,189. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.38 and a current ratio of 3.42. The company has a market capitalization of $1.00 billion, a PE ratio of -88.33 and a beta of -0.15. The business has a fifty day simple moving average of $18.51. Codexis has a 52 week low of $12.85 and a 52 week high of $23.05.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Monday, May 6th. The biotechnology company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). Codexis had a negative return on equity of 21.08% and a negative net margin of 18.22%. The firm had revenue of $15.58 million for the quarter, compared to analyst estimates of $14.83 million. As a group, sell-side analysts expect that Codexis will post -0.23 earnings per share for the current year.

In related news, SVP James Lalonde sold 19,999 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $18.65, for a total transaction of $372,981.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.70% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Codexis by 0.8% in the 4th quarter. BlackRock Inc. now owns 3,609,165 shares of the biotechnology company’s stock worth $60,275,000 after buying an additional 29,638 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Codexis by 6.0% in the 1st quarter. Baillie Gifford & Co. now owns 3,057,555 shares of the biotechnology company’s stock worth $62,771,000 after buying an additional 173,065 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in shares of Codexis by 228.0% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 2,489,389 shares of the biotechnology company’s stock worth $51,107,000 after buying an additional 1,730,434 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its position in shares of Codexis by 6.2% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 1,256,461 shares of the biotechnology company’s stock worth $20,983,000 after buying an additional 73,008 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of Codexis by 3.6% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,026,082 shares of the biotechnology company’s stock worth $17,136,000 after buying an additional 35,833 shares during the last quarter. Hedge funds and other institutional investors own 85.51% of the company’s stock.

About Codexis

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.

Featured Story: Golden Cross

Analyst Recommendations for Codexis (NASDAQ:CDXS)

Receive News & Ratings for Codexis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Codexis and related companies with MarketBeat.com's FREE daily email newsletter.