Benchmark reaffirmed their buy rating on shares of Codexis (NASDAQ:CDXS – Free Report) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $9.00 target price on the biotechnology company’s stock.
Separately, StockNews.com upgraded Codexis to a sell rating in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $6.80.
View Our Latest Analysis on Codexis
Codexis Stock Up 17.4 %
Codexis (NASDAQ:CDXS – Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.18. Codexis had a negative net margin of 87.73% and a negative return on equity of 39.53%. The firm had revenue of $26.56 million during the quarter, compared to analyst estimates of $24.73 million. Analysts anticipate that Codexis will post -0.6 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Codexis
Several hedge funds have recently added to or reduced their stakes in CDXS. SG Americas Securities LLC bought a new stake in shares of Codexis in the 3rd quarter worth approximately $50,000. Commonwealth Equity Services LLC purchased a new stake in Codexis during the third quarter valued at about $42,000. Strs Ohio grew its stake in shares of Codexis by 62.0% during the third quarter. Strs Ohio now owns 295,400 shares of the biotechnology company’s stock valued at $558,000 after buying an additional 113,100 shares during the last quarter. Olympiad Research LP purchased a new position in shares of Codexis in the third quarter worth about $100,000. Finally, Perkins Capital Management Inc. purchased a new position in Codexis in the 3rd quarter worth approximately $43,000. Institutional investors own 78.54% of the company’s stock.
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.
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