Codexis, Inc. (NASDAQ:CDXS) has earned a consensus recommendation of “Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $15.50.
Several brokerages recently issued reports on CDXS. Craig Hallum raised their target price on shares of Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. BidaskClub raised shares of Codexis from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research raised shares of Codexis from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday, August 16th. Finally, Cowen began coverage on shares of Codexis in a report on Tuesday, June 19th. They set an “outperform” rating and a $18.00 target price for the company.
NASDAQ CDXS opened at $15.33 on Friday. The firm has a market capitalization of $917.74 million, a price-to-earnings ratio of -30.66 and a beta of -2.07. Codexis has a 12-month low of $5.70 and a 12-month high of $19.60.
Codexis (NASDAQ:CDXS) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. The business had revenue of $13.54 million during the quarter, compared to analysts’ expectations of $11.87 million. Codexis had a negative net margin of 29.83% and a negative return on equity of 61.93%. As a group, sell-side analysts expect that Codexis will post -0.2 EPS for the current year.
In related news, Director Bernard J. Kelley sold 16,666 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $17.15, for a total transaction of $285,821.90. Following the completion of the transaction, the director now owns 242,334 shares of the company’s stock, valued at $4,156,028.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Patrick Y. Yang sold 150,340 shares of the firm’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $14.45, for a total transaction of $2,172,413.00. Following the transaction, the director now directly owns 120,896 shares of the company’s stock, valued at approximately $1,746,947.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 583,329 shares of company stock valued at $9,513,697. 11.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of CDXS. Metropolitan Life Insurance Co. NY grew its position in Codexis by 25.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 17,210 shares of the biotechnology company’s stock valued at $248,000 after buying an additional 3,475 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Codexis during the second quarter valued at $146,000. New York State Common Retirement Fund grew its position in Codexis by 30.5% during the first quarter. New York State Common Retirement Fund now owns 44,900 shares of the biotechnology company’s stock valued at $494,000 after buying an additional 10,500 shares during the period. Rhumbline Advisers grew its position in Codexis by 29.1% during the second quarter. Rhumbline Advisers now owns 48,661 shares of the biotechnology company’s stock valued at $701,000 after buying an additional 10,983 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC grew its position in Codexis by 5.6% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 219,435 shares of the biotechnology company’s stock valued at $3,160,000 after buying an additional 11,562 shares during the period. 77.35% of the stock is owned by hedge funds and other institutional investors.
Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.
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