Codexis (NASDAQ:CDXS)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued on Monday. They currently have a $16.50 price target on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 1.41% from the stock’s current price.
The analysts wrote, “We maintain our Buy rating of CDXS and our 12-month price target of $16.50 per share. We derive our price target based on the average of three valuation methods: 1) price-sales multiple analysis applying a 3x multiple to our 2025 risk-adjusted revenue estimate discounted at 12%; 2) price-earnings multiple analysis applying a 23x multiple to our 2025 estimated earnings discounted at 12%; and 3) discounted free cash flow analysis assuming a 12% discount rate and a 2% terminal growth rate.””
CDXS has been the topic of a number of other reports. Zacks Investment Research cut Codexis from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 15th. BidaskClub lowered Codexis from a “buy” rating to a “hold” rating in a report on Tuesday, December 18th. Finally, Stephens lifted their price objective on Codexis from $16.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, December 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Codexis currently has an average rating of “Buy” and a consensus target price of $19.33.
Codexis (NASDAQ:CDXS) last released its earnings results on Thursday, November 8th. The biotechnology company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The company had revenue of $16.95 million for the quarter, compared to analysts’ expectations of $14.63 million. Codexis had a negative return on equity of 25.72% and a negative net margin of 14.26%. Equities research analysts forecast that Codexis will post -0.23 earnings per share for the current fiscal year.
In other Codexis news, Director Dennis P. Wolf sold 9,000 shares of Codexis stock in a transaction dated Wednesday, December 26th. The stock was sold at an average price of $15.83, for a total transaction of $142,470.00. Following the completion of the transaction, the director now owns 86,230 shares of the company’s stock, valued at approximately $1,365,020.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patrick Y. Yang sold 50,000 shares of Codexis stock in a transaction dated Thursday, December 20th. The shares were sold at an average price of $18.52, for a total value of $926,000.00. Following the transaction, the director now directly owns 78,817 shares of the company’s stock, valued at approximately $1,459,690.84. The disclosure for this sale can be found here. In the last three months, insiders sold 153,765 shares of company stock valued at $2,831,747. 11.40% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc lifted its position in Codexis by 7.8% in the third quarter. Vanguard Group Inc now owns 2,267,934 shares of the biotechnology company’s stock valued at $38,895,000 after purchasing an additional 164,817 shares during the last quarter. Federated Investors Inc. PA bought a new position in shares of Codexis during the third quarter valued at approximately $8,407,000. Vanguard Group Inc. raised its holdings in shares of Codexis by 7.8% during the third quarter. Vanguard Group Inc. now owns 2,267,934 shares of the biotechnology company’s stock valued at $38,895,000 after acquiring an additional 164,817 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Codexis by 4.8% during the third quarter. Teachers Advisors LLC now owns 93,973 shares of the biotechnology company’s stock valued at $1,612,000 after acquiring an additional 4,320 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Codexis by 43.2% during the third quarter. AQR Capital Management LLC now owns 89,111 shares of the biotechnology company’s stock valued at $1,528,000 after acquiring an additional 26,899 shares in the last quarter. 80.33% of the stock is owned by institutional investors and hedge funds.
Codexis Company Profile
Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.
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