Codexis, Inc. (NASDAQ:CDXS) Receives Consensus Recommendation of “Hold” from Brokerages

Codexis, Inc. (NASDAQ:CDXS) has earned an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.80.

A number of research analysts have recently commented on CDXS shares. HC Wainwright set a $8.00 price objective on shares of Codexis and gave the company a “buy” rating in a research report on Thursday, May 11th. Zacks Investment Research lowered shares of Codexis from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC started coverage on shares of Codexis in a research report on Wednesday, May 31st. They set a “buy” rating and a $8.00 price objective for the company. ValuEngine raised shares of Codexis from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, BidaskClub raised shares of Codexis from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th.

Shares of Codexis (NASDAQ CDXS) opened at 5.25 on Friday. The stock’s 50 day moving average price is $5.35 and its 200-day moving average price is $4.72. Codexis has a 12 month low of $3.60 and a 12 month high of $5.70. The stock’s market capitalization is $216.59 million.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The business had revenue of $10.30 million during the quarter, compared to analyst estimates of $9.61 million. Codexis had a negative net margin of 40.70% and a negative return on equity of 98.28%. The firm’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 earnings per share. Equities analysts forecast that Codexis will post ($0.32) earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Perkins Capital Management Inc. acquired a new position in Codexis during the second quarter valued at about $164,000. Prescott Group Capital Management L.L.C. raised its position in Codexis by 607.8% in the second quarter. Prescott Group Capital Management L.L.C. now owns 2,040,324 shares of the biotechnology company’s stock valued at $11,120,000 after buying an additional 1,752,049 shares during the period. 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 valued at $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 valued at $122,000 after buying an additional 717 shares during the period. Finally, Geode Capital Management LLC raised its position in Codexis by 4.2% in the first quarter. Geode Capital Management LLC now owns 226,644 shares of the biotechnology company’s stock valued at $1,087,000 after buying an additional 9,191 shares during the period. 54.90% of the stock is owned by hedge funds and other institutional investors.

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Codexis Company Profile

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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