Codexis, Inc. (CDXS) Stock Rating Reaffirmed by Jefferies Group LLC
Codexis, Inc. (NASDAQ:CDXS)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a research note issued on Monday. They presently have a $9.00 price target on the biotechnology company’s stock, up from their previous price target of $8.00. Jefferies Group LLC’s price objective points to a potential upside of 35.34% from the stock’s previous close.
CDXS has been the subject of a number of other research reports. Zacks Investment Research raised Codexis from a “hold” rating to a “buy” rating and set a $6.25 target price on the stock in a research report on Wednesday, July 19th. ValuEngine downgraded Codexis from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. BidaskClub raised Codexis from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, HC Wainwright set a $8.00 price target on Codexis and gave the stock a “buy” rating in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.00.
Codexis (CDXS) traded up 3.76% during mid-day trading on Monday, hitting $6.90. The company had a trading volume of 167,188 shares. The company has a 50 day moving average of $5.43 and a 200 day moving average of $4.93. The firm’s market capitalization is $333.44 million. Codexis has a 1-year low of $3.60 and a 1-year high of $6.90.
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, meeting the Zacks’ consensus estimate of ($0.13). The firm had revenue of $10.30 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 35.6% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. Analysts predict that Codexis will post ($0.42) earnings per share for the current fiscal year.
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In related news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $5.78, for a total transaction of $6,126,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC increased its position in shares of Codexis by 10.0% during the fourth quarter. Teachers Advisors LLC now owns 58,017 shares of the biotechnology company’s stock worth $267,000 after purchasing an additional 5,264 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Codexis by 24.4% in the 1st quarter. Wells Fargo & Company MN now owns 58,694 shares of the biotechnology company’s stock worth $282,000 after purchasing an additional 11,500 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Codexis by 10.4% during the 1st quarter. Bank of New York Mellon Corp now owns 136,053 shares of the biotechnology company’s stock worth $653,000 after buying an additional 12,841 shares during the last quarter. Blair William & Co. IL grew its stake in Codexis by 523.1% during the 1st quarter. Blair William & Co. IL now owns 173,097 shares of the biotechnology company’s stock worth $831,000 after buying an additional 145,315 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in Codexis by 1.1% during the 1st quarter. TIAA CREF Investment Management LLC now owns 102,294 shares of the biotechnology company’s stock worth $491,000 after buying an additional 1,099 shares during the last quarter. 63.62% of the stock is currently owned by institutional investors and hedge funds.
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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