Codexis, Inc. (NASDAQ:CDXS) Given Consensus Recommendation of “Moderate Buy” by Analysts

by · The Cerbat Gem

Codexis, Inc. (NASDAQ:CDXS – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $7.17.

A number of brokerages recently commented on CDXS. TD Cowen lowered Codexis from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $21.00 to $4.00 in a report on Monday, August 7th. StockNews.com downgraded shares of Codexis from a “hold” rating to a “sell” rating in a report on Monday, November 6th. Benchmark downgraded shares of Codexis from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Stifel Nicolaus dropped their target price on shares of Codexis from $9.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, August 14th. Finally, Piper Sandler decreased their price target on shares of Codexis from $14.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, November 6th.

View Our Latest Stock Report on Codexis

Codexis Price Performance

Shares of CDXS stock opened at $2.27 on Wednesday. The firm has a 50-day moving average of $1.82 and a 200-day moving average of $2.28. Codexis has a one year low of $1.45 and a one year high of $6.98. The company has a market cap of $158.45 million, a P/E ratio of -1.89 and a beta of 1.75.

Codexis (NASDAQ:CDXS – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.06. Codexis had a negative net margin of 110.41% and a negative return on equity of 53.16%. The firm had revenue of $9.28 million during the quarter, compared to analyst estimates of $10.96 million. As a group, research analysts expect that Codexis will post -0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Byron L. Dorgan sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $2.11, for a total value of $42,200.00. Following the sale, the director now owns 193,461 shares of the company’s stock, valued at $408,202.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders acquired 32,484 shares of company stock worth $55,403 over the last quarter. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Codexis

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Codexis by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 52,116 shares of the biotechnology company’s stock worth $1,075,000 after purchasing an additional 8,870 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Codexis by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 220,879 shares of the biotechnology company’s stock valued at $4,554,000 after buying an additional 1,618 shares during the period. US Bancorp DE lifted its holdings in shares of Codexis by 517.5% in the first quarter. US Bancorp DE now owns 8,380 shares of the biotechnology company’s stock worth $172,000 after buying an additional 7,023 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Codexis by 55.6% in the first quarter. MetLife Investment Management LLC now owns 32,963 shares of the biotechnology company’s stock valued at $680,000 after acquiring an additional 11,784 shares during the period. Finally, BlackRock Inc. grew its stake in Codexis by 0.7% during the first quarter. BlackRock Inc. now owns 5,183,443 shares of the biotechnology company’s stock valued at $106,885,000 after acquiring an additional 38,494 shares in the last quarter. 87.94% of the stock is owned by institutional investors.

About Codexis

(Get Free Report

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; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.

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