Stock analysts at Piper Sandler initiated coverage on shares of Codexis (NASDAQ:CDXS) in a research note issued to investors on Monday, Benzinga reports. The firm set an “overweight” rating and a $32.00 price target on the biotechnology company’s stock. Piper Sandler’s target price would indicate a potential upside of 39.80% from the company’s previous close.
Several other analysts also recently issued reports on the company. HC Wainwright upped their price target on Codexis from $21.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, March 4th. Stifel Nicolaus assumed coverage on Codexis in a research note on Monday, March 8th. They set a “buy” rating and a $30.00 price target for the company. Benchmark increased their target price on Codexis from $21.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, December 30th. Finally, Zacks Investment Research upgraded Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, March 3rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.67.
NASDAQ:CDXS opened at $22.89 on Monday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -65.40 and a beta of 1.17. Codexis has a 1-year low of $10.28 and a 1-year high of $29.56. The business’s fifty day moving average price is $22.20 and its 200 day moving average price is $20.41.
In related news, Director Patrick Y. Yang sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $24.71, for a total value of $494,200.00. Also, Director Dennis P. Wolf sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 25th. The shares were sold at an average price of $20.44, for a total value of $204,400.00. Following the completion of the transaction, the director now owns 45,987 shares in the company, valued at approximately $939,974.28. The disclosure for this sale can be found here. Insiders have sold a total of 32,500 shares of company stock valued at $761,050 over the last ninety days. Insiders own 10.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Penserra Capital Management LLC bought a new position in Codexis during the fourth quarter worth about $30,000. International Assets Investment Management LLC bought a new position in Codexis during the fourth quarter worth about $57,000. Nisa Investment Advisors LLC raised its position in shares of Codexis by 18.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,140 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 800 shares during the period. Prelude Capital Management LLC acquired a new stake in shares of Codexis during the fourth quarter worth about $211,000. Finally, LPL Financial LLC acquired a new stake in shares of Codexis during the fourth quarter worth about $212,000. Hedge funds and other institutional investors own 91.33% of the company’s stock.
Codexis, Inc discovers, develops, and sells biocatalysts. It 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 biocatalyst screening and protein engineering services.
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