Codexis (NASDAQ:CDXS) Given Buy Rating at HC Wainwright

Codexis (NASDAQ:CDXS)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Thursday, AnalystRatings.com reports. They currently have a $22.50 price target on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 58.79% from the stock’s previous close.

A number of other research firms have also recently weighed in on CDXS. BidaskClub cut shares of Codexis from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Zacks Investment Research cut shares of Codexis from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $21.58.

CDXS traded up $0.01 on Thursday, reaching $14.17. The stock had a trading volume of 323,124 shares, compared to its average volume of 364,518. Codexis has a 12-month low of $14.05 and a 12-month high of $23.05. The company has a current ratio of 6.30, a quick ratio of 3.38 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $18.30. The company has a market cap of $772.83 million, a P/E ratio of -67.48 and a beta of -0.05.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). Codexis had a negative net margin of 23.13% and a negative return on equity of 21.60%. The firm had revenue of $12.32 million during the quarter, compared to analysts’ expectations of $14.90 million. Analysts predict that Codexis will post -0.23 EPS for the current year.

In other news, SVP James Lalonde sold 19,999 shares of Codexis 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Investment Advisory Services LLC acquired a new stake in shares of Codexis in the second quarter valued at about $37,000. Aperio Group LLC acquired a new stake in shares of Codexis in the second quarter valued at about $98,000. Legal & General Group Plc grew its position in shares of Codexis by 12.1% in the fourth quarter. Legal & General Group Plc now owns 9,379 shares of the biotechnology company’s stock valued at $157,000 after purchasing an additional 1,010 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Codexis in the second quarter valued at about $190,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Codexis by 13.3% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,093 shares of the biotechnology company’s stock valued at $207,000 after purchasing an additional 1,186 shares during the period. Institutional investors and hedge funds own 86.84% 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.

Further Reading: What is the return on assets (ROA) ratio?

Analyst Recommendations for Codexis (NASDAQ:CDXS)

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