Codexis (CDXS) Rating Lowered to Hold at BidaskClub

Codexis (NASDAQ:CDXS) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

A number of other analysts also recently weighed in on CDXS. Jefferies Group reiterated a “buy” rating and set a $9.00 price target (up from $8.00) on shares of Codexis in a report on Monday, October 2nd. Zacks Investment Research upgraded Codexis from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, HC Wainwright increased their price target on Codexis from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Friday, October 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $7.81.

Shares of Codexis (CDXS) opened at $8.00 on Thursday. Codexis has a 1-year low of $3.60 and a 1-year high of $8.55. The firm has a market capitalization of $386.77, a PE ratio of -12.31 and a beta of -1.59.

Several institutional investors and hedge funds have recently modified their holdings of CDXS. Rhumbline Advisers grew its stake in shares of Codexis by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 42,872 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 8,095 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Codexis by 8.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 147,846 shares of the biotechnology company’s stock valued at $806,000 after buying an additional 11,793 shares during the period. Wells Fargo & Company MN grew its stake in shares of Codexis by 103.2% in the 2nd quarter. Wells Fargo & Company MN now owns 119,294 shares of the biotechnology company’s stock valued at $650,000 after buying an additional 60,600 shares during the period. Baillie Gifford & Co. grew its stake in shares of Codexis by 23.3% in the 2nd quarter. Baillie Gifford & Co. now owns 1,461,413 shares of the biotechnology company’s stock valued at $7,965,000 after buying an additional 276,280 shares during the period. Finally, White Pine Capital LLC acquired a new stake in shares of Codexis in the 2nd quarter valued at about $277,000. Institutional investors own 65.71% of the company’s stock.

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About Codexis

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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