Codexis (NASDAQ:CDXS) Stock Rating Lowered by Wall Street Zen

Codexis (NASDAQ:CDXS) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently commented on CDXS. Cantor Fitzgerald restated an “overweight” rating on shares of Codexis in a research note on Wednesday, June 17th. Weiss Ratings upgraded Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Codexis currently has an average rating of “Hold” and a consensus price target of $5.00.

Codexis Stock Performance

Shares of Codexis stock opened at $1.56 on Friday. The firm has a market cap of $170.84 million, a PE ratio of -4.59 and a beta of 2.54. Codexis has a 1 year low of $0.96 and a 1 year high of $3.25. The firm’s 50-day simple moving average is $2.09 and its 200-day simple moving average is $1.98. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.99 and a current ratio of 3.06.

Codexis (NASDAQ:CDXS) last issued its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. Codexis had a negative return on equity of 74.36% and a negative net margin of 39.55%.The company had revenue of $14.91 million during the quarter, compared to analyst estimates of $13.82 million. Equities analysts forecast that Codexis will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Codexis

Several institutional investors have recently bought and sold shares of the stock. Man Group plc acquired a new position in Codexis during the 2nd quarter valued at about $1,278,000. The Manufacturers Life Insurance Company acquired a new position in shares of Codexis during the second quarter valued at approximately $57,000. Algert Global LLC raised its holdings in Codexis by 118.2% during the second quarter. Algert Global LLC now owns 430,910 shares of the biotechnology company’s stock worth $974,000 after purchasing an additional 233,463 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Codexis during the second quarter worth approximately $35,000. Finally, Ieq Capital LLC acquired a new stake in Codexis in the second quarter worth approximately $105,000. Institutional investors and hedge funds own 78.54% of the company’s stock.

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.