HC Wainwright set a $8.00 price objective on Codexis, Inc. (NASDAQ:CDXS) in a research note published on Thursday, May 11th. The brokerage currently has a buy rating on the biotechnology company’s stock.
Several other analysts have also recently commented on the company. First Analysis cut Codexis from an overweight rating to an equal weight rating and set a $5.50 price target for the company. in a research report on Thursday, January 26th. Zacks Investment Research upgraded Codexis from a hold rating to a buy rating and set a $4.75 price target for the company in a research report on Tuesday, February 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Codexis currently has an average rating of Hold and an average price target of $6.50.
Shares of Codexis (NASDAQ CDXS) opened at 4.80 on Thursday. The stock’s market capitalization is $231.21 million. The firm’s 50-day moving average is $4.54 and its 200-day moving average is $4.57. Codexis has a one year low of $3.60 and a one year high of $5.28.
Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.03. The business had revenue of $7.97 million during the quarter, compared to analysts’ expectations of $9.23 million. Codexis had a negative net margin of 18.53% and a negative return on equity of 49.35%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. Equities research analysts forecast that Codexis will post ($0.28) EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in CDXS. Tower Research Capital LLC TRC raised its position in Codexis by 7,242.9% in the first quarter. Tower Research Capital LLC TRC now owns 22,249 shares of the biotechnology company’s stock worth $107,000 after buying an additional 21,946 shares during the period. Bank of America Corp DE raised its position in Codexis by 2.9% in the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock worth $122,000 after buying an additional 717 shares during the period. Wells Fargo & Company MN raised its position in Codexis by 412.3% in the third quarter. Wells Fargo & Company MN now owns 26,279 shares of the biotechnology company’s stock worth $117,000 after buying an additional 21,149 shares during the period. Alambic Investment Management L.P. bought a new position in Codexis during the third quarter worth $177,000. Finally, Teachers Advisors LLC raised its position in shares of Codexis by 10.0% in the fourth quarter. Teachers Advisors LLC now owns 58,017 shares of the biotechnology company’s stock valued at $267,000 after buying an additional 5,264 shares during the period. 51.27% of the stock is currently owned by institutional investors.
Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.
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