Codexis, Inc. (CDXS) Receives Consensus Rating of “Buy” from Brokerages
Codexis, Inc. (NASDAQ:CDXS) has earned an average recommendation of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $21.58.
Several brokerages have recently issued reports on CDXS. Zacks Investment Research downgraded Codexis from a “buy” rating to a “hold” rating in a research report on Friday, January 18th. BidaskClub raised Codexis from a “hold” rating to a “buy” rating in a report on Monday, April 1st. ValuEngine raised Codexis from a “buy” rating to a “strong-buy” rating in a report on Monday, April 1st. Craig Hallum boosted their target price on Codexis from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, February 27th. Finally, HC Wainwright reissued a “buy” rating and set a $16.50 target price on shares of Codexis in a report on Monday, January 14th.
Shares of CDXS stock opened at $21.27 on Friday. Codexis has a 52 week low of $10.85 and a 52 week high of $23.05. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -101.29 and a beta of -0.32.
In other Codexis news, CFO Gordon Sangster sold 80,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $20.88, for a total value of $1,670,400.00. Following the transaction, the chief financial officer now owns 174,453 shares of the company’s stock, valued at $3,642,578.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dennis P. Wolf sold 9,000 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $21.96, for a total value of $197,640.00. The disclosure for this sale can be found here. Insiders sold 236,987 shares of company stock worth $4,673,191 in the last ninety days. 11.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CDXS. Quantamental Technologies LLC bought a new position in shares of Codexis in the fourth quarter valued at $26,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Codexis by 152.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,837 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 1,711 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Codexis by 12.1% in the fourth quarter. Legal & General Group Plc now owns 9,379 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 1,010 shares in the last quarter. United Services Automobile Association bought a new position in shares of Codexis in the third quarter valued at $195,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Codexis in the fourth quarter valued at $217,000. 85.29% of the stock is currently owned by 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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