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

Codexis, Inc. (NASDAQ:CDXS) has earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $22.30.

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

Shares of NASDAQ CDXS traded down $0.01 during trading on Thursday, hitting $18.73. 21,661 shares of the company traded hands, compared to its average volume of 364,510. The firm has a fifty day moving average of $18.57. Codexis has a fifty-two week low of $12.85 and a fifty-two week high of $23.05. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -89.29 and a beta of -0.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.42 and a quick ratio of 3.38.

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

In related news, SVP James Lalonde sold 19,999 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $18.65, for a total value of $372,981.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 10.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Codexis by 13.3% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,093 shares of the biotechnology company’s stock worth $207,000 after acquiring an additional 1,186 shares during the last quarter. BlackRock Inc. increased its stake in Codexis by 0.8% in the 4th quarter. BlackRock Inc. now owns 3,609,165 shares of the biotechnology company’s stock valued at $60,275,000 after buying an additional 29,638 shares during the last quarter. Baillie Gifford & Co. increased its stake in Codexis by 3.0% in the 4th quarter. Baillie Gifford & Co. now owns 2,884,490 shares of the biotechnology company’s stock valued at $48,171,000 after buying an additional 83,253 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Codexis by 3.6% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,026,082 shares of the biotechnology company’s stock valued at $17,136,000 after buying an additional 35,833 shares during the last quarter. Finally, WINTON GROUP Ltd increased its stake in Codexis by 3.4% in the 4th quarter. WINTON GROUP Ltd now owns 21,155 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 691 shares during the last quarter. Institutional investors own 85.51% 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.

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Analyst Recommendations for Codexis (NASDAQ:CDXS)

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