Codexis (NASDAQ:CDXS) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Codexis (NASDAQ:CDXS) in a research report report published on Friday morning, Benzinga reports. They currently have a $11.00 target price on the biotechnology company’s stock.

CDXS has been the topic of a number of other research reports. Jefferies Financial Group initiated coverage on shares of Codexis in a report on Monday, June 3rd. They set a buy rating and a $5.00 price target on the stock. Benchmark downgraded Codexis from a buy rating to a hold rating in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Codexis presently has a consensus rating of Hold and a consensus target price of $8.75.

Codexis Trading Down 5.8 %

NASDAQ CDXS opened at $2.92 on Friday. The company has a market cap of $206.03 million, a price-to-earnings ratio of -3.14 and a beta of 2.07. Codexis has a twelve month low of $1.45 and a twelve month high of $4.91. The company has a quick ratio of 2.92, a current ratio of 2.99 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $3.10 and its 200 day moving average is $3.18.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. The firm had revenue of $7.98 million for the quarter, compared to analyst estimates of $7.64 million. During the same period in the previous year, the business posted ($0.17) earnings per share. As a group, sell-side analysts expect that Codexis will post -0.75 EPS for the current fiscal year.

Insider Transactions at Codexis

In other news, major shareholder Opaleye Management Inc. acquired 61,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was bought at an average cost of $3.16 per share, for a total transaction of $192,760.00. Following the completion of the transaction, the insider now directly owns 7,380,000 shares in the company, valued at approximately $23,320,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have bought 1,161,000 shares of company stock worth $3,500,610. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Codexis

Several institutional investors and hedge funds have recently made changes to their positions in CDXS. Los Angeles Capital Management LLC acquired a new position in shares of Codexis during the 2nd quarter valued at $54,000. Marshall Wace LLP acquired a new position in shares of Codexis during the second quarter valued at about $89,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Codexis during the 1st quarter worth about $97,000. State Board of Administration of Florida Retirement System grew its stake in shares of Codexis by 57.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 10,395 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Codexis by 72.6% in the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 15,425 shares during the period. Institutional investors own 78.54% of the company’s stock.

About Codexis

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.