Codexis Inc. (CDXS) Given $6.00 Consensus Price Target by Analysts
Codexis Inc. (NASDAQ:CDXS) has been assigned a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company.
Brokerages have set a one year consensus target price of $6.00 for the company and are anticipating that the company will post ($0.14) EPS for the current quarter, according to Zacks. Zacks has also given Codexis an industry rank of 43 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of Codexis from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th.
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Codexis (NASDAQ:CDXS) traded down 0.342% on Thursday, hitting $4.375. 5,943 shares of the stock traded hands. The stock has a 50-day moving average price of $4.27 and a 200 day moving average price of $3.94. The stock’s market cap is $180.17 million. Codexis has a 12-month low of $2.93 and a 12-month high of $4.63.
Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.03 by $0.09. Codexis had a negative net margin of 2.63% and a positive return on equity of 7.82%. The company earned $16 million during the quarter, compared to analysts’ expectations of $15.10 million. During the same quarter in the previous year, the company earned ($0.14) EPS. Codexis’s revenue was up 166.7% on a year-over-year basis. On average, equities analysts expect that Codexis will post ($0.20) EPS for the current fiscal year.
In related news, major shareholder Ventures Fund Vii L.P. Vivo sold 111,600 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $4.25, for a total transaction of $474,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bernard J. Kelley sold 12,643 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $4.26, for a total transaction of $53,859.18. Following the transaction, the director now owns 234,906 shares of the company’s stock, valued at approximately $1,000,699.56. The disclosure for this sale can be found here. Corporate insiders own 11.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CDXS. Blair William & Co. IL purchased a new position in shares of Codexis during the second quarter worth about $100,000. Rhumbline Advisers purchased a new position in shares of Codexis during the second quarter worth about $123,000. Menta Capital LLC boosted its position in shares of Codexis by 1.5% in the first quarter. Menta Capital LLC now owns 41,378 shares of the company’s stock worth $129,000 after buying an additional 600 shares in the last quarter. Teachers Advisors Inc. purchased a new position in shares of Codexis during the second quarter worth about $213,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Codexis during the second quarter worth about $224,000. Hedge funds and other institutional investors own 57.24% of the company’s stock.
Codexis Company Profile
Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.
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