Codexis, Inc. (CDXS) Earns Buy Rating from Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Codexis, Inc. (NASDAQ:CDXS) in a report issued on Monday morning. The firm currently has a $9.00 price objective on the biotechnology company’s stock, up from their prior price objective of $8.00.
A number of other equities research analysts also recently weighed in on CDXS. HC Wainwright set a $8.00 price objective on Codexis and gave the company a buy rating in a report on Friday, August 11th. BidaskClub raised Codexis from a sell rating to a hold rating in a report on Saturday, August 19th. Zacks Investment Research downgraded Codexis from a buy rating to a hold rating in a report on Monday, August 14th. Finally, ValuEngine raised Codexis from a sell rating to a hold rating in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $7.00.
Shares of Codexis (NASDAQ CDXS) opened at 6.90 on Monday. The stock’s 50 day moving average price is $5.80 and its 200-day moving average price is $5.08. The firm’s market capitalization is $333.44 million. Codexis has a 12 month low of $3.60 and a 12 month high of $7.00.
Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.13). The company 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 company’s quarterly revenue was down 35.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.12 earnings per share. On average, equities analysts anticipate that Codexis will post ($0.42) earnings per share for the current fiscal year.
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In other news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $5.78, for a total value of $6,126,800.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.80% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. William Blair Investment Management LLC boosted its holdings in shares of Codexis by 10.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,090,072 shares of the biotechnology company’s stock worth $5,941,000 after acquiring an additional 103,233 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Codexis by 10.4% in the 1st quarter. Bank of New York Mellon Corp now owns 136,053 shares of the biotechnology company’s stock worth $653,000 after acquiring an additional 12,841 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its holdings in shares of Codexis by 607.8% in the 2nd 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 acquiring an additional 1,752,049 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Codexis by 24.4% in the 1st quarter. Wells Fargo & Company MN now owns 58,694 shares of the biotechnology company’s stock worth $282,000 after acquiring an additional 11,500 shares in the last quarter. Finally, Perkins Capital Management Inc. acquired a new position in shares of Codexis in the 2nd quarter worth approximately $164,000. 63.62% of the stock is currently owned by institutional investors and hedge funds.
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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