Codexis (NASDAQ:CDXS) Cut to Strong Sell at BidaskClub

BidaskClub cut shares of Codexis (NASDAQ:CDXS) from a sell rating to a strong sell rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Other equities research analysts have also issued research reports about the company. HC Wainwright reaffirmed a buy rating and set a $22.50 price target on shares of Codexis in a research report on Thursday, August 8th. Zacks Investment Research lowered Codexis from a hold rating to a sell rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Codexis presently has a consensus rating of Buy and a consensus price target of $21.58.

NASDAQ:CDXS opened at $13.39 on Thursday. Codexis has a 1-year low of $12.81 and a 1-year high of $23.05. The business’s 50-day moving average price is $17.57 and its two-hundred day moving average price is $19.31. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.30 and a quick ratio of 6.26.



Codexis (NASDAQ:CDXS) last released its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.04). Codexis had a negative net margin of 23.13% and a negative return on equity of 21.60%. The company had revenue of $12.32 million during the quarter, compared to analyst estimates of $14.90 million. Analysts predict that Codexis will post -0.21 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC acquired a new stake in shares of Codexis during the second quarter worth about $37,000. Tower Research Capital LLC TRC acquired a new stake in shares of Codexis during the second quarter worth about $41,000. Quantamental Technologies LLC acquired a new stake in shares of Codexis during the second quarter worth about $44,000. Aperio Group LLC acquired a new stake in shares of Codexis during the second quarter worth about $98,000. Finally, Legal & General Group Plc raised its position in shares of Codexis by 12.1% during the fourth quarter. Legal & General Group Plc now owns 9,379 shares of the biotechnology company’s stock worth $157,000 after purchasing an additional 1,010 shares during the period. 87.27% of the stock is currently owned by institutional investors.

About Codexis

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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Analyst Recommendations for Codexis (NASDAQ:CDXS)

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