Codexis (NASDAQ:CDXS) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Codexis (NASDAQ:CDXS) in a report published on Thursday, Benzinga reports. The brokerage currently has a $11.00 target price on the biotechnology company’s stock. Cantor Fitzgerald also issued estimates for Codexis’ FY2024 earnings at ($0.74) EPS.

A number of other analysts have also recently weighed in on the stock. 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 target price on the stock. Benchmark cut shares of Codexis from a buy rating to a hold rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $8.75.

Codexis Trading Down 0.3 %

CDXS opened at $2.89 on Thursday. The stock has a market capitalization of $203.91 million, a PE ratio of -3.11 and a beta of 2.12. The firm’s fifty day moving average price is $3.15 and its 200 day moving average price is $3.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.99 and a quick ratio of 2.92. Codexis has a 12-month low of $1.45 and a 12-month high of $4.91.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $7.98 million during the quarter, compared to analyst estimates of $7.64 million. Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. During the same period in the prior year, the company earned ($0.17) earnings per share. As a group, research analysts expect that Codexis will post -0.73 EPS for the current fiscal year.

Institutional Trading of Codexis

Large investors have recently modified their holdings of the company. GSA Capital Partners LLP increased its holdings in shares of Codexis by 101.2% in the 4th quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock worth $2,553,000 after acquiring an additional 420,977 shares during the period. Private Advisor Group LLC increased its holdings in shares of Codexis by 3.9% in the 4th quarter. Private Advisor Group LLC now owns 189,486 shares of the biotechnology company’s stock worth $578,000 after acquiring an additional 7,065 shares during the period. Opaleye Management Inc. increased its holdings in shares of Codexis by 172.2% in the 4th quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock worth $9,289,000 after acquiring an additional 1,926,625 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Codexis by 0.8% in the 1st quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock worth $12,024,000 after acquiring an additional 26,216 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Codexis in the 1st quarter worth about $97,000. Institutional investors and hedge funds 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.