Codexis, Inc. (CDXS) Upgraded at BidaskClub
Codexis, Inc. (NASDAQ:CDXS) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Codexis from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. HC Wainwright set a $8.00 price objective on shares of Codexis and gave the stock a “buy” rating in a research note on Friday, August 11th. ValuEngine cut shares of Codexis from a “hold” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Jefferies Group LLC began coverage on shares of Codexis in a research note on Wednesday, May 31st. They issued a “buy” rating and a $8.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Codexis currently has a consensus rating of “Hold” and an average target price of $6.80.
Shares of Codexis (CDXS) traded up 2.83% on Friday, reaching $5.45. 111,510 shares of the company’s stock traded hands. Codexis has a 52-week low of $3.60 and a 52-week high of $5.70. The stock’s market cap is $263.37 million. The firm’s 50-day moving average is $5.37 and its 200-day moving average is $4.73.
Codexis (NASDAQ:CDXS) last announced its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). Codexis had a negative net margin of 40.70% and a negative return on equity of 83.39%. The business had revenue of $10.30 million during the quarter, compared to analysts’ expectations of $9.61 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm’s revenue was down 35.6% on a year-over-year basis. Analysts anticipate that Codexis will post ($0.42) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position 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 in the last quarter. Nationwide Fund Advisors raised its position in Codexis by 15.7% in the second quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 2,928 shares during the period. Bank of America Corp DE raised 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. Perkins Capital Management Inc. acquired a new position in Codexis during the second quarter valued at approximately $164,000. Finally, The Manufacturers Life Insurance Company raised its position in Codexis by 30.5% in the second quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 8,244 shares during the period. Hedge funds and other institutional investors own 55.57% 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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