Codexis (NASDAQ:CDXS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
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 brokerages also recently issued reports on CDXS. HC Wainwright reaffirmed a “buy” rating and issued a $8.50 price objective on shares of Codexis in a research report on Tuesday, November 21st. BidaskClub raised shares of Codexis from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $9.75.
Codexis (NASDAQ:CDXS) last posted its earnings results on Thursday, March 8th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). The business had revenue of $21.70 million for the quarter, compared to the consensus estimate of $22.97 million. Codexis had a negative return on equity of 107.12% and a negative net margin of 45.97%. The company’s revenue was up 117.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) earnings per share. equities research analysts expect that Codexis will post -0.18 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Nationwide Fund Advisors grew its position in Codexis by 15.7% in the 2nd quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 2,928 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in Codexis by 1,753.5% in the 4th quarter. Thompson Davis & CO. Inc. now owns 18,535 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 17,535 shares in the last quarter. Burney Co. bought a new stake in Codexis in the 4th quarter worth about $167,000. MetLife Investment Advisors LLC bought a new stake in Codexis in the 4th quarter worth about $179,000. Finally, The Manufacturers Life Insurance Company grew its position in Codexis by 30.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 8,244 shares in the last quarter. 70.97% of the stock is owned by institutional investors and hedge funds.
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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