Codexis (NASDAQ:CDXS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Codexis (NASDAQ:CDXS) from a strong sell rating to a hold rating in a research report released on Saturday morning.

CDXS has been the subject of several other research reports. Stifel Nicolaus set a $5.00 price objective on Codexis in a report on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Codexis in a report on Wednesday, January 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Codexis in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Codexis currently has an average rating of “Hold” and an average target price of $5.00.

Codexis Price Performance

CDXS stock opened at $1.50 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.82 and a quick ratio of 3.75. The company’s 50-day moving average is $1.38 and its 200-day moving average is $1.86. The stock has a market capitalization of $136.31 million, a PE ratio of -2.88 and a beta of 2.49. Codexis has a 1 year low of $0.96 and a 1 year high of $3.87.

Codexis (NASDAQ:CDXS) last issued its earnings results on Wednesday, March 11th. The biotechnology company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.10. Codexis had a negative return on equity of 90.51% and a negative net margin of 62.47%.The business had revenue of $38.92 million during the quarter, compared to analyst estimates of $35.83 million. Equities research analysts expect that Codexis will post -0.77 EPS for the current fiscal year.

Institutional Trading of Codexis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDXS. Navalign LLC purchased a new stake in shares of Codexis in the fourth quarter worth approximately $25,000. Victory Capital Management Inc. purchased a new position in shares of Codexis during the third quarter valued at approximately $25,000. State of Wyoming bought a new stake in Codexis during the second quarter worth $25,000. CIBC Bancorp USA Inc. bought a new stake in Codexis during the third quarter worth $26,000. Finally, Crux Wealth Advisors purchased a new stake in Codexis in the 3rd quarter valued at $33,000. 78.54% of the stock is owned by institutional investors.

About Codexis

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.