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

Codexis (NASDAQ:CDXS)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They presently have a $11.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 188.71% from the company’s previous close.

Separately, Benchmark reissued a “hold” rating on shares of Codexis in a report on Monday, November 4th.

Codexis Price Performance

Shares of CDXS traded up $0.07 during mid-day trading on Friday, hitting $3.81. 123,495 shares of the company traded hands, compared to its average volume of 534,841. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $310.05 million, a price-to-earnings ratio of -4.33 and a beta of 2.07. The business has a 50-day moving average of $3.24 and a 200 day moving average of $3.22. Codexis has a one year low of $1.85 and a one year high of $4.91.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). The firm had revenue of $12.83 million during the quarter, compared to the consensus estimate of $11.64 million. Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. During the same quarter in the previous year, the business posted ($0.26) earnings per share. As a group, equities analysts expect that Codexis will post -0.76 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Opaleye Management Inc. purchased 45,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was bought at an average cost of $2.94 per share, with a total value of $132,300.00. Following the purchase, the insider now directly owns 8,435,000 shares in the company, valued at $24,798,900. The trade was a 0.54 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders have purchased a total of 1,166,000 shares of company stock valued at $3,514,910 in the last 90 days. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CDXS. Los Angeles Capital Management LLC bought a new stake in Codexis in the second quarter valued at approximately $54,000. Intech Investment Management LLC acquired a new stake in Codexis during the 3rd quarter worth $66,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Codexis during the first quarter worth about $97,000. State Board of Administration of Florida Retirement System grew its stake in Codexis by 57.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after acquiring an additional 10,395 shares during the period. Finally, Marshall Wace LLP acquired a new position in Codexis in the second quarter valued at about $89,000. 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.