Benchmark Reaffirms “Hold” Rating for Codexis (NASDAQ:CDXS)

Benchmark reissued their hold rating on shares of Codexis (NASDAQ:CDXS) in a research note issued to investors on Monday morning, Benzinga reports.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price target on shares of Codexis in a report on Friday, September 20th.

Codexis Stock Up 5.0 %

CDXS opened at $4.01 on Monday. The business has a 50 day moving average of $3.07 and a 200-day moving average of $3.17. The stock has a market capitalization of $326.33 million, a price-to-earnings ratio of -4.39 and a beta of 2.07. 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 has a 1-year low of $1.51 and a 1-year high of $4.91.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. The company had revenue of $12.83 million during the quarter, compared to the consensus estimate of $11.64 million. During the same period last year, the company earned ($0.26) earnings per share. As a group, sell-side analysts anticipate that Codexis will post -0.75 earnings per share for the current year.

Insider Transactions at Codexis

In other Codexis news, major shareholder Opaleye Management Inc. bought 1,055,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $3.01 per share, for a total transaction of $3,175,550.00. Following the transaction, the insider now owns 8,390,000 shares in the company, valued at approximately $25,253,900. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders acquired 1,166,000 shares of company stock valued at $3,514,910. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Codexis

Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC lifted its holdings in shares of Codexis by 1.3% during the third quarter. Private Advisor Group LLC now owns 278,699 shares of the biotechnology company’s stock valued at $858,000 after acquiring an additional 3,458 shares during the period. Rhumbline Advisers lifted its holdings in Codexis by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 108,594 shares of the biotechnology company’s stock valued at $337,000 after purchasing an additional 4,017 shares during the last quarter. Perkins Capital Management Inc. boosted its position in Codexis by 2.8% in the third quarter. Perkins Capital Management Inc. now owns 164,100 shares of the biotechnology company’s stock valued at $505,000 after buying an additional 4,500 shares in the last quarter. Algert Global LLC grew its stake in Codexis by 17.1% during the second quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock worth $129,000 after buying an additional 6,069 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased 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. Institutional investors and hedge funds own 78.54% of the company’s stock.

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.