Codexis (NASDAQ:CDXS) Receives Buy Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Codexis (NASDAQ:CDXS) in a report published on Friday morning, Benzinga reports. They currently have 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 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. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $6.80.

Codexis Price Performance

CDXS stock traded up $0.58 during trading on Friday, hitting $3.92. 1,702,797 shares of the company traded hands, compared to its average volume of 383,245. Codexis has a 1 year low of $1.45 and a 1 year high of $4.91. The company has a market cap of $276.60 million, a PE ratio of -4.22 and a beta of 2.04. The stock’s 50-day simple moving average is $3.33 and its 200 day simple moving average is $2.77.

Codexis (NASDAQ:CDXS) last posted its earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $24.73 million. Research analysts expect that Codexis will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Codexis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDXS. Commonwealth Equity Services LLC acquired a new position in shares of Codexis during the 3rd quarter worth about $42,000. Perkins Capital Management Inc. acquired a new position in Codexis in the 3rd quarter valued at $43,000. Tower Research Capital LLC TRC boosted its stake in Codexis by 674.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 13,203 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Codexis during the 3rd quarter worth $50,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Codexis during the third quarter worth $70,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

Codexis Company Profile

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.