Codexis, Inc. (NASDAQ:CDXS) Receives $6.80 Consensus Target Price from Analysts

Codexis, Inc. (NASDAQ:CDXS) has earned an average rating of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.80.

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Codexis to a “sell” rating in a report on Tuesday, March 5th. Benchmark upgraded shares of Codexis from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Thursday, February 29th.

Codexis Stock Performance

Shares of CDXS stock opened at $3.49 on Tuesday. The firm has a market cap of $245.00 million, a P/E ratio of -3.14 and a beta of 2.01. Codexis has a one year low of $1.45 and a one year high of $4.91. The firm’s 50 day moving average price is $3.26 and its 200-day moving average price is $2.59.

Codexis (NASDAQ:CDXS) last released its earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.18. The company had revenue of $26.56 million for the quarter, compared to analyst estimates of $24.73 million. Codexis had a negative net margin of 108.69% and a negative return on equity of 47.58%. As a group, research analysts predict that Codexis will post -0.6 EPS for the current fiscal year.

Institutional Trading of Codexis

Large investors have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Codexis by 153.7% in the third quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock valued at $8,194,000 after buying an additional 2,626,400 shares during the last quarter. Opaleye Management Inc. increased its holdings in shares of Codexis by 172.2% in the fourth quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock valued at $9,289,000 after purchasing an additional 1,926,625 shares during the period. Ameriprise Financial Inc. grew its position in Codexis by 153.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,787,642 shares of the biotechnology company’s stock valued at $3,379,000 after buying an additional 1,081,197 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Codexis by 156.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,753,443 shares of the biotechnology company’s stock worth $3,314,000 after buying an additional 1,071,002 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Codexis during the 2nd quarter worth approximately $9,661,000. Institutional investors and hedge funds own 78.54% of the company’s stock.

Codexis Company Profile

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.