Codexis, Inc. (CDXS) Given a $8.00 Price Target at HC Wainwright
A number of other brokerages have also recently issued reports on CDXS. BidaskClub cut Codexis from a buy rating to a hold rating in a report on Friday, July 28th. ValuEngine upgraded Codexis from a sell rating to a hold rating in a report on Wednesday, June 21st. Zacks Investment Research upgraded Codexis from a strong sell rating to a hold rating in a report on Tuesday, July 11th. Finally, Jefferies Group LLC began coverage on Codexis in a report on Wednesday, May 31st. They set a buy rating and a $8.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $6.80.
Shares of Codexis (NASDAQ CDXS) opened at 5.30 on Friday. The firm has a 50 day moving average price of $5.35 and a 200-day moving average price of $4.71. The company’s market cap is $218.65 million. Codexis has a 12 month low of $3.60 and a 12 month high of $5.70.
Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). The firm had revenue of $10.30 million for the quarter, compared to the consensus estimate of $9.61 million. Codexis had a negative return on equity of 83.39% and a negative net margin of 40.70%. The business’s revenue was down 35.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. Analysts anticipate that Codexis will post ($0.37) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of the company. Perkins Capital Management Inc. purchased a new stake in shares of Codexis during the second quarter worth about $164,000. Prescott Group Capital Management L.L.C. boosted its stake in shares of Codexis by 607.8% in the second quarter. Prescott Group Capital Management L.L.C. now owns 2,040,324 shares of the biotechnology company’s stock worth $11,120,000 after buying an additional 1,752,049 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Codexis by 7,242.9% in the first quarter. Tower Research Capital LLC TRC now owns 22,249 shares of the biotechnology company’s stock worth $107,000 after buying an additional 21,946 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Codexis by 2.9% in the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock worth $122,000 after buying an additional 717 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Codexis by 4.2% in the first quarter. Geode Capital Management LLC now owns 226,644 shares of the biotechnology company’s stock worth $1,087,000 after buying an additional 9,191 shares in the last quarter. Institutional investors own 55.57% of the company’s stock.
Codexis Company Profile
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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