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

by · The Markets Daily

Codexis (NASDAQ:CDXS – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Codexis in a research report on Thursday. Weiss Ratings restated a “sell (e+)” rating on shares of Codexis in a research report on Wednesday, January 21st. Finally, Stifel Nicolaus set a $5.00 target price on Codexis in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.00.

Read Our Latest Report on CDXS

Codexis Stock Down 5.8%

NASDAQ CDXS opened at $1.61 on Friday. The company has a quick ratio of 3.75, a current ratio of 3.82 and a debt-to-equity ratio of 0.79. Codexis has a 52 week low of $0.96 and a 52 week high of $3.87. The firm has a market capitalization of $146.30 million, a price-to-earnings ratio of -3.10 and a beta of 2.49. The company has a fifty day moving average of $1.38 and a two-hundred day moving average of $1.87.

Codexis (NASDAQ:CDXS – Get Free Report) last released its earnings results on Wednesday, March 11th. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.10. Codexis had a negative net margin of 62.47% and a negative return on equity of 90.51%. The firm had revenue of $38.92 million during the quarter, compared to analyst estimates of $35.83 million. On average, analysts predict that Codexis will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Telemark Asset Management LLC boosted its position in Codexis by 33.3% in the 2nd quarter. Telemark Asset Management LLC now owns 4,000,000 shares of the biotechnology company’s stock valued at $9,760,000 after buying an additional 1,000,000 shares during the period. Guggenheim Capital LLC bought a new position in Codexis in the 4th quarter worth about $45,000. BNP Paribas Financial Markets increased its position in shares of Codexis by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 16,608 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 8,038 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Codexis during the third quarter worth approximately $25,000. Finally, Potomac Capital Management Inc. bought a new stake in shares of Codexis during the fourth quarter valued at approximately $489,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

(Get Free Report)

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.

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