Benchmark Lowers Codexis (NASDAQ:CDXS) to Hold

Benchmark lowered shares of Codexis (NASDAQ:CDXS) from a buy rating to a hold rating in a report published on Monday, MarketBeat Ratings reports.

A number of other research analysts have also issued reports on the stock. Cantor Fitzgerald reiterated an overweight rating and set a $11.00 price target on shares of Codexis in a research note on Friday, August 9th. Jefferies Financial Group began coverage on shares of Codexis in a report on Monday, June 3rd. They set a buy rating and a $5.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $8.75.

Codexis Trading Up 1.0 %

NASDAQ CDXS opened at $3.00 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.63 and a current ratio of 3.71. The firm has a market cap of $211.67 million, a PE ratio of -3.23 and a beta of 2.12. Codexis has a one year low of $1.45 and a one year high of $4.91. The firm’s fifty day moving average is $3.14 and its two-hundred day moving average is $3.25.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Codexis had a negative return on equity of 41.76% and a negative net margin of 87.73%. The firm had revenue of $7.98 million for the quarter, compared to analyst estimates of $7.64 million. During the same quarter last year, the firm earned ($0.17) earnings per share. Analysts expect that Codexis will post -0.63 earnings per share for the current year.

Institutional Trading of Codexis

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Codexis by 3.1% in the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock valued at $14,861,000 after purchasing an additional 129,773 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Codexis by 0.8% in the first quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock valued at $12,024,000 after purchasing an additional 26,216 shares in the last quarter. Opaleye Management Inc. lifted its holdings in shares of Codexis by 2.4% in the first quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock valued at $10,889,000 after purchasing an additional 74,475 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Codexis by 101.2% in the fourth quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock valued at $2,553,000 after purchasing an additional 420,977 shares in the last quarter. Finally, Kent Lake Capital LLC purchased a new stake in shares of Codexis in the first quarter valued at about $2,197,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

About Codexis

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.