Codexis’ (CDXS) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Codexis (NASDAQ:CDXS) in a research note released on Friday,Benzinga reports. The brokerage currently has a $11.00 target price on the biotechnology company’s stock.

Separately, Benchmark reiterated a “hold” rating on shares of Codexis in a report on Monday, November 4th.

Codexis Stock Up 3.7 %

CDXS stock traded up $0.14 during mid-day trading on Friday, hitting $3.88. 1,097,404 shares of the company were exchanged, compared to its average volume of 539,228. The company has a market capitalization of $315.75 million, a PE ratio of -4.46 and a beta of 2.07. Codexis has a twelve month low of $1.85 and a twelve month high of $4.91. The firm has a fifty day simple moving average of $3.26 and a 200 day simple moving average of $3.23. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39.

Codexis (NASDAQ:CDXS) last posted its earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The firm had revenue of $12.83 million during the quarter, compared to the consensus estimate of $11.64 million. During the same quarter last year, the company posted ($0.26) EPS. On average, research analysts forecast that Codexis will post -0.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Codexis news, major shareholder Opaleye Management Inc. purchased 45,000 shares of the stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $2.94 per share, with a total value of $132,300.00. Following the acquisition, the insider now directly owns 8,435,000 shares of the company’s stock, valued at $24,798,900. This represents a 0.54 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have bought a total of 1,166,000 shares of company stock valued at $3,514,910 over the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Codexis

Several institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in Codexis during the 2nd quarter worth about $54,000. Intech Investment Management LLC bought a new position in shares of Codexis in the 3rd quarter valued at about $66,000. Marshall Wace LLP bought a new position in shares of Codexis during the 2nd quarter worth approximately $89,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Codexis in the 1st quarter valued at about $97,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Codexis by 57.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after buying an additional 10,395 shares in the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.

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.