Codexis, Inc. (CDXS) Given Consensus Rating of “Buy” by Brokerages

Codexis, Inc. (NASDAQ:CDXS) has earned an average rating of “Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.75.

CDXS has been the topic of several analyst reports. Zacks Investment Research raised Codexis from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, August 16th. HC Wainwright set a $17.00 price objective on Codexis and gave the stock a “buy” rating in a research note on Monday, November 12th. BidaskClub raised Codexis from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 23rd. Finally, Craig Hallum boosted their price objective on Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th.

Shares of CDXS stock opened at $21.92 on Friday. Codexis has a 12-month low of $6.40 and a 12-month high of $21.94. The stock has a market capitalization of $1.13 billion, a PE ratio of -43.84 and a beta of -1.60.

Codexis (NASDAQ:CDXS) last issued its earnings results on Thursday, November 8th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. Codexis had a negative return on equity of 25.72% and a negative net margin of 14.26%. The firm had revenue of $16.95 million for the quarter, compared to analysts’ expectations of $14.63 million. On average, research analysts anticipate that Codexis will post -0.23 EPS for the current fiscal year.

In other Codexis news, CFO Gordon Sangster sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $16.94, for a total transaction of $1,355,200.00. Following the sale, the chief financial officer now directly owns 174,453 shares of the company’s stock, valued at $2,955,233.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bernard J. Kelley sold 10,207 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $18.12, for a total value of $184,950.84. Following the transaction, the director now directly owns 215,461 shares in the company, valued at approximately $3,904,153.32. The disclosure for this sale can be found here. Insiders have sold 303,448 shares of company stock worth $5,321,614 over the last three months. 11.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDXS. BlackRock Inc. grew its stake in shares of Codexis by 27.3% during the second quarter. BlackRock Inc. now owns 3,402,575 shares of the biotechnology company’s stock valued at $48,996,000 after buying an additional 729,552 shares during the last quarter. FMR LLC bought a new position in shares of Codexis during the second quarter valued at approximately $7,452,000. Wells Fargo & Company MN grew its stake in shares of Codexis by 35.8% during the third quarter. Wells Fargo & Company MN now owns 1,826,947 shares of the biotechnology company’s stock valued at $31,332,000 after buying an additional 481,273 shares during the last quarter. Castleark Management LLC bought a new position in shares of Codexis during the second quarter valued at approximately $6,239,000. Finally, Sensato Investors LLC bought a new position in shares of Codexis during the third quarter valued at approximately $3,645,000. 78.28% of the stock is currently owned by hedge funds and other institutional investors.

Codexis Company Profile

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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