Codexis, Inc. (NASDAQ:CDXS) Receives $7.33 Average Price Target from Brokerages

Shares of Codexis, Inc. (NASDAQ:CDXS) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.33.

A number of equities analysts have recently commented on the stock. Jefferies Financial Group started coverage on shares of Codexis in a report on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Codexis in a report on Thursday, May 30th. They set an “overweight” rating and a $11.00 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $9.00 target price on shares of Codexis in a report on Friday, May 3rd.

Institutional Trading of Codexis

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Codexis by 3.1% in the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock worth $14,861,000 after buying an additional 129,773 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Codexis by 0.8% in the first quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock worth $12,024,000 after buying an additional 26,216 shares during the last quarter. Opaleye Management Inc. lifted its holdings in Codexis by 2.4% during the first quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock valued at $10,889,000 after purchasing an additional 74,475 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Codexis by 101.2% during the fourth quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock valued at $2,553,000 after purchasing an additional 420,977 shares in the last quarter. Finally, Kent Lake Capital LLC purchased a new position in Codexis during the first quarter valued at approximately $2,197,000. 78.54% of the stock is currently owned by institutional investors.

Codexis Price Performance

Shares of NASDAQ:CDXS opened at $3.30 on Monday. The company’s fifty day moving average price is $3.25 and its 200-day moving average price is $3.22. The firm has a market capitalization of $232.85 million, a price-to-earnings ratio of -3.55 and a beta of 2.12. Codexis has a one year low of $1.45 and a one year high of $4.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.71 and a quick ratio of 3.63.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $17.07 million for the quarter, compared to analyst estimates of $14.06 million. Codexis had a negative net margin of 87.73% and a negative return on equity of 41.76%. On average, equities research analysts anticipate that Codexis will post -0.63 earnings per share for the current fiscal year.

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.