Codexis, Inc. (NASDAQ:CDXS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Codexis, Inc. (NASDAQ:CDXS) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.80.

A number of equities research analysts have recently issued reports on CDXS shares. Benchmark upgraded shares of Codexis from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Thursday, February 29th. StockNews.com upgraded shares of Codexis to a “sell” rating in a research note on Tuesday, March 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new position in shares of Codexis in the third quarter valued at about $786,000. Assenagon Asset Management S.A. grew its stake in shares of Codexis by 156.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,753,443 shares of the biotechnology company’s stock valued at $3,314,000 after acquiring an additional 1,071,002 shares in the last quarter. FMR LLC grew its stake in shares of Codexis by 153.7% in the third quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock valued at $8,194,000 after acquiring an additional 2,626,400 shares in the last quarter. Algert Global LLC grew its stake in shares of Codexis by 8.9% in the third quarter. Algert Global LLC now owns 107,080 shares of the biotechnology company’s stock valued at $202,000 after acquiring an additional 8,720 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Codexis by 262.6% in the third quarter. Barclays PLC now owns 155,055 shares of the biotechnology company’s stock valued at $294,000 after acquiring an additional 112,289 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Codexis Stock Performance

Shares of CDXS opened at $2.80 on Friday. The company has a market capitalization of $196.84 million, a price-to-earnings ratio of -2.52 and a beta of 2.01. Codexis has a fifty-two week low of $1.45 and a fifty-two week high of $4.91. The firm has a 50-day simple moving average of $3.32 and a 200-day simple moving average of $2.72.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.18. Codexis had a negative return on equity of 47.58% and a negative net margin of 108.69%. The company had revenue of $26.56 million during the quarter, compared to the consensus estimate of $24.73 million. Equities research analysts forecast that Codexis will post -0.6 EPS for the current year.

About Codexis

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.