HC Wainwright Boosts Codexis, Inc. (CDXS) Price Target to $8.50
Codexis, Inc. (NASDAQ:CDXS) had its target price boosted by stock analysts at HC Wainwright from $8.00 to $8.50 in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 8.28% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. ValuEngine upgraded shares of Codexis from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Codexis from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Jefferies Group LLC reiterated a “buy” rating and set a $9.00 price target (up from $8.00) on shares of Codexis in a research note on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of Codexis from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research note on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Codexis presently has a consensus rating of “Hold” and a consensus price target of $7.10.
Codexis (CDXS) opened at 7.85 on Friday. Codexis has a 52-week low of $3.60 and a 52-week high of $7.90. The company has a 50 day moving average price of $6.08 and a 200 day moving average price of $5.18. The firm’s market capitalization is $379.34 million.
Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.13). The business had revenue of $10.30 million during the quarter, compared to analysts’ expectations of $9.61 million. Codexis had a negative net margin of 40.70% and a negative return on equity of 83.39%. The company’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 EPS. On average, equities analysts forecast that Codexis will post ($0.42) EPS for the current fiscal year.
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In other Codexis news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of Codexis stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $5.78, for a total value of $6,126,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 9.80% of the company’s stock.
Several institutional investors have recently modified their holdings of CDXS. EAM Investors LLC increased its stake in shares of Codexis by 0.4% during the fourth quarter. EAM Investors LLC now owns 407,255 shares of the biotechnology company’s stock worth $1,723,000 after acquiring an additional 1,604 shares during the period. Bridgeway Capital Management Inc. increased its stake in shares of Codexis by 76.4% during the fourth quarter. Bridgeway Capital Management Inc. now owns 265,500 shares of the biotechnology company’s stock worth $1,123,000 after acquiring an additional 115,000 shares during the period. Granite Investment Partners LLC increased its stake in shares of Codexis by 24.3% during the first quarter. Granite Investment Partners LLC now owns 359,629 shares of the biotechnology company’s stock worth $1,118,000 after acquiring an additional 70,278 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Codexis by 122,564.5% during the first quarter. JPMorgan Chase & Co. now owns 38,026 shares of the biotechnology company’s stock worth $118,000 after acquiring an additional 37,995 shares during the period. Finally, Menta Capital LLC increased its stake in shares of Codexis by 1.5% during the first quarter. Menta Capital LLC now owns 41,378 shares of the biotechnology company’s stock worth $129,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 63.62% of the company’s stock.
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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