Codexis (CDXS) Now Covered by Stephens

Stock analysts at Stephens initiated coverage on shares of Codexis (NASDAQ:CDXS) in a research report issued on Wednesday, Marketbeat.com reports. The firm set an “overweight” rating and a $16.00 price target on the biotechnology company’s stock. Stephens’ price target would suggest a potential upside of 20.75% from the stock’s current price.

Several other analysts have also commented on CDXS. Zacks Investment Research lowered shares of Codexis from a “hold” rating to a “sell” rating in a report on Friday, February 9th. BidaskClub upgraded shares of Codexis from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 3rd. HC Wainwright set a $12.00 price objective on shares of Codexis and gave the stock a “buy” rating in a report on Monday, March 12th. Finally, ValuEngine upgraded shares of Codexis from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $13.25.

Shares of CDXS opened at $13.25 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.67 and a debt-to-equity ratio of 0.02. Codexis has a one year low of $13.40 and a one year high of $14.05. The stock has a market capitalization of $705.43 million, a price-to-earnings ratio of -26.50 and a beta of -1.71.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Thursday, May 10th. The biotechnology company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). Codexis had a negative return on equity of 87.65% and a negative net margin of 36.06%. The company had revenue of $14.04 million during the quarter, compared to analysts’ expectations of $13.50 million. sell-side analysts predict that Codexis will post -0.25 EPS for the current fiscal year.

In other Codexis news, Director David V. Smith sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The shares were sold at an average price of $10.37, for a total transaction of $62,220.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis P. Wolf sold 41,666 shares of the firm’s stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $11.15, for a total transaction of $464,575.90. Following the transaction, the director now directly owns 157,920 shares of the company’s stock, valued at approximately $1,760,808. The disclosure for this sale can be found here. Insiders have sold 137,337 shares of company stock valued at $1,602,603 in the last ninety days. Insiders own 9.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Telemark Asset Management LLC increased its stake in shares of Codexis by 58.5% during the fourth quarter. Telemark Asset Management LLC now owns 3,250,000 shares of the biotechnology company’s stock valued at $27,138,000 after purchasing an additional 1,200,000 shares in the last quarter. BlackRock Inc. increased its stake in shares of Codexis by 0.7% during the fourth quarter. BlackRock Inc. now owns 2,672,981 shares of the biotechnology company’s stock valued at $22,320,000 after purchasing an additional 18,193 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Codexis by 25.0% during the first quarter. Baillie Gifford & Co. now owns 2,302,979 shares of the biotechnology company’s stock valued at $25,332,000 after purchasing an additional 460,578 shares in the last quarter. Prescott Group Capital Management L.L.C. increased its stake in shares of Codexis by 4.2% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 2,133,568 shares of the biotechnology company’s stock valued at $17,815,000 after purchasing an additional 86,356 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Codexis by 17.9% during the first quarter. Wells Fargo & Company MN now owns 1,181,327 shares of the biotechnology company’s stock valued at $12,995,000 after purchasing an additional 179,241 shares in the last quarter. 64.24% of the stock is owned by institutional investors and hedge funds.

About Codexis

Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.

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