Codexis’ (CDXS) “Buy” Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Codexis (NASDAQ:CDXS) in a report published on Friday, Benzinga reports. They currently have a $9.00 price objective on the biotechnology company’s stock.

Separately, StockNews.com upgraded shares of Codexis to a sell rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $6.80.

Codexis Stock Performance

NASDAQ:CDXS opened at $3.92 on Friday. Codexis has a 52 week low of $1.45 and a 52 week high of $4.91. The firm has a 50-day moving average price of $3.33 and a two-hundred day moving average price of $2.78. The firm has a market cap of $276.60 million, a price-to-earnings ratio of -4.22 and a beta of 2.04.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.18. The business had revenue of $26.56 million for the quarter, compared to analyst estimates of $24.73 million. Codexis had a negative return on equity of 39.53% and a negative net margin of 87.73%. As a group, sell-side analysts forecast that Codexis will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Codexis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Codexis during the 3rd quarter valued at approximately $50,000. Commonwealth Equity Services LLC bought a new position in shares of Codexis in the third quarter worth $42,000. Strs Ohio boosted its holdings in shares of Codexis by 62.0% in the third quarter. Strs Ohio now owns 295,400 shares of the biotechnology company’s stock worth $558,000 after acquiring an additional 113,100 shares during the period. Olympiad Research LP purchased a new position in shares of Codexis in the third quarter valued at $100,000. Finally, Perkins Capital Management Inc. purchased a new stake in Codexis during the 3rd quarter worth about $43,000. 78.54% of the stock is currently owned by institutional investors.

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.