Codexis, Inc. (NASDAQ:CDXS) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Other analysts have also issued reports about the stock. Jefferies Group LLC started coverage on shares of Codexis in a research note on Wednesday, May 31st. They issued a “buy” rating and a $8.00 price target for the company. HC Wainwright set a $8.00 price target on shares of Codexis and gave the stock a “buy” rating in a research note on Thursday, May 11th. ValuEngine raised shares of Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Zacks Investment Research raised shares of Codexis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.50.

Codexis (CDXS) traded up 1.83% during midday trading on Friday, hitting $5.55. 64,114 shares of the stock were exchanged. Codexis has a 52 week low of $3.60 and a 52 week high of $5.55. The firm’s 50-day moving average is $4.67 and its 200 day moving average is $4.59. The stock’s market cap is $267.34 million.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $7.97 million during the quarter, compared to analyst estimates of $9.23 million. Codexis had a negative return on equity of 49.35% and a negative net margin of 18.53%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. Equities research analysts expect that Codexis will post ($0.28) EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC raised its stake in Codexis by 40.2% in the first quarter. William Blair Investment Management LLC now owns 986,839 shares of the biotechnology company’s stock valued at $4,737,000 after buying an additional 282,909 shares in the last quarter. State Street Corp raised its stake in Codexis by 13.2% in the fourth quarter. State Street Corp now owns 451,422 shares of the biotechnology company’s stock valued at $2,076,000 after buying an additional 52,483 shares in the last quarter. Geode Capital Management LLC raised its stake in Codexis by 4.2% in the first quarter. Geode Capital Management LLC now owns 226,644 shares of the biotechnology company’s stock valued at $1,087,000 after buying an additional 9,191 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in Codexis by 27.5% in the first quarter. Essex Investment Management Co. LLC now owns 206,138 shares of the biotechnology company’s stock valued at $989,000 after buying an additional 44,501 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in Codexis by 523.1% in the first quarter. Blair William & Co. IL now owns 173,097 shares of the biotechnology company’s stock valued at $831,000 after buying an additional 145,315 shares in the last quarter. 51.11% of the stock is owned by institutional investors and hedge funds.

About Codexis

Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.

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