Codexis (NASDAQ:CDXS) Downgraded by Benchmark to Hold

Benchmark lowered shares of Codexis (NASDAQ:CDXS) from a buy rating to a hold rating in a report released on Monday, MarketBeat.com reports.

Several other research analysts also recently commented on the stock. Cantor Fitzgerald reaffirmed an overweight rating and issued a $11.00 price target on shares of Codexis in a research note on Friday, August 9th. Jefferies Financial Group assumed coverage on shares of Codexis in a research note on Monday, June 3rd. They set a buy rating and a $5.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Codexis has a consensus rating of Hold and a consensus price target of $8.75.

Codexis Trading Down 3.3 %

CDXS opened at $2.90 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.63 and a current ratio of 3.71. The stock’s 50 day moving average price is $3.14 and its 200-day moving average price is $3.25. Codexis has a one year low of $1.45 and a one year high of $4.91. The stock has a market cap of $204.62 million, a price-to-earnings ratio of -3.12 and a beta of 2.12.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Codexis had a negative net margin of 87.73% and a negative return on equity of 41.76%. The business had revenue of $7.98 million for the quarter, compared to analysts’ expectations of $7.64 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. On average, equities analysts forecast that Codexis will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in shares of Codexis by 674.0% in 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 period. Los Angeles Capital Management LLC bought a new position in Codexis in the second quarter worth approximately $54,000. Marshall Wace LLP bought a new position in Codexis in the second quarter worth approximately $89,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Codexis during the first quarter worth $97,000. Finally, State Board of Administration of Florida Retirement System boosted its position in Codexis by 57.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after acquiring an additional 10,395 shares in the last quarter. 78.54% of the stock is currently owned by 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.