Codexis, Inc. (NASDAQ:CDXS) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

CDXS has been the subject of a number of other reports. Zacks Investment Research cut shares of Codexis from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. HC Wainwright set a $8.00 price objective on shares of Codexis and gave the company a “buy” rating in a report on Thursday, May 11th. Finally, Jefferies Group LLC initiated coverage on shares of Codexis in a report on Wednesday, May 31st. They set a “buy” rating and a $8.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $6.50.

Shares of Codexis (CDXS) remained flat at $4.90 during trading on Wednesday. 102,231 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $4.56 and its 200-day moving average price is $4.57. Codexis has a 52-week low of $3.60 and a 52-week high of $5.28. The firm’s market cap is $236.03 million.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. The business had revenue of $7.97 million for the quarter, compared to analyst estimates of $9.23 million. Codexis had a negative net margin of 18.53% and a negative return on equity of 49.35%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share. On average, equities research analysts predict that Codexis will post ($0.28) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDXS. Tower Research Capital LLC TRC boosted its position in Codexis by 7,242.9% in the first quarter. Tower Research Capital LLC TRC now owns 22,249 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 21,946 shares during the period. Bank of America Corp DE boosted its position in Codexis by 2.9% in the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 717 shares during the period. Geode Capital Management LLC boosted its position in Codexis by 4.2% in the first quarter. Geode Capital Management LLC now owns 226,644 shares of the biotechnology company’s stock valued at $1,087,000 after buying an additional 9,191 shares during the period. Vanguard Group Inc. boosted its position in Codexis by 2.9% in the first quarter. Vanguard Group Inc. now owns 1,074,171 shares of the biotechnology company’s stock valued at $5,156,000 after buying an additional 30,343 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Codexis by 1.1% in the first quarter. TIAA CREF Investment Management LLC now owns 102,294 shares of the biotechnology company’s stock valued at $491,000 after buying an additional 1,099 shares during the period. Institutional investors and hedge funds own 51.11% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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