Codexis, Inc. (NASDAQ:CDXS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Codexis, Inc. is a leading protein engineering company that applies its technology to the development of biocatalysts for the commercial manufacture of pharmaceuticals and fine chemicals. Codexis’ proven technology enables implementation of biocatalytic solutions to meet customer needs for rapid, cost-effective and sustainable manufacturing. “

A number of other analysts have also commented on the company. Jefferies Group LLC began coverage on Codexis in a research note on Wednesday, May 31st. They set a “buy” rating and a $8.00 price target on the stock. HC Wainwright set a $8.00 price target on Codexis and gave the company a “buy” rating in a research note on Thursday, May 11th. Finally, ValuEngine raised Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. 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 company. Codexis has a consensus rating of “Hold” and an average price target of $6.50.

Codexis (NASDAQ CDXS) traded up 1.90% on Tuesday, hitting $5.35. The company had a trading volume of 174,565 shares. The firm has a 50-day moving average price of $4.67 and a 200-day moving average price of $4.59. Codexis has a 12-month low of $3.60 and a 12-month high of $5.45. The firm’s market capitalization is $257.70 million.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by $0.03. The business had revenue of $7.97 million during 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 business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the business earned ($0.11) earnings per share. On average, equities research analysts anticipate that Codexis will post ($0.28) earnings per share for the current fiscal year.

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Several hedge funds have recently made changes to their positions in CDXS. Tower Research Capital LLC TRC raised its stake in shares of 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 worth $107,000 after buying an additional 21,946 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Codexis by 2.9% in the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock worth $122,000 after buying an additional 717 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Codexis by 4.2% in the first quarter. Geode Capital Management LLC now owns 226,644 shares of the biotechnology company’s stock worth $1,087,000 after buying an additional 9,191 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Codexis by 1.1% in the first quarter. TIAA CREF Investment Management LLC now owns 102,294 shares of the biotechnology company’s stock worth $491,000 after buying an additional 1,099 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Codexis by 40.2% in the first quarter. William Blair Investment Management LLC now owns 986,839 shares of the biotechnology company’s stock worth $4,737,000 after buying an additional 282,909 shares during the last quarter. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

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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