Codexis (NASDAQ:CDXS) received a $12.00 price objective from investment analysts at HC Wainwright in a report released on Monday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target would suggest a potential upside of 8.11% from the stock’s current price.
Several other equities analysts have also weighed in on the company. BidaskClub raised Codexis from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research raised Codexis from a “sell” rating to a “hold” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Codexis has a consensus rating of “Buy” and a consensus target price of $9.75.
Codexis (NASDAQ CDXS) opened at $11.10 on Monday. Codexis has a one year low of $3.95 and a one year high of $11.25. The stock has a market capitalization of $536.65, a price-to-earnings ratio of -22.20 and a beta of -1.60.
A number of large investors have recently added to or reduced their stakes in CDXS. Telemark Asset Management LLC acquired a new position in Codexis in the third quarter valued at about $13,633,000. Vanguard Group Inc. lifted its stake in Codexis by 64.5% in the second quarter. Vanguard Group Inc. now owns 1,766,533 shares of the biotechnology company’s stock valued at $9,627,000 after buying an additional 692,362 shares during the period. Wells Fargo & Company MN lifted its stake in Codexis by 156.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,002,086 shares of the biotechnology company’s stock valued at $8,367,000 after buying an additional 611,289 shares during the period. Royce & Associates LP acquired a new position in Codexis in the third quarter valued at about $1,089,000. Finally, State Street Corp increased its holdings in shares of Codexis by 26.8% in the second quarter. State Street Corp now owns 580,623 shares of the biotechnology company’s stock worth $3,168,000 after acquiring an additional 122,757 shares in the last quarter. 70.97% of the stock is currently owned by hedge funds and other institutional investors.
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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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