Codexis (NASDAQ:CDXS) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday.
A number of other equities analysts have also recently weighed in on the company. BidaskClub upgraded Codexis from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Zacks Investment Research lowered Codexis from a “buy” rating to a “hold” rating in a research report on Friday, January 18th. First Analysis raised Codexis from a “neutral” rating to an “outperform” rating and upped their target price for the company from $12.00 to $19.00 in a research report on Thursday, January 17th. Jefferies Financial Group upped their target price on Codexis from $4.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 15th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.50 target price on shares of Codexis in a research report on Monday, January 14th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.50.
Get Codexis alerts:NASDAQ CDXS traded up $0.17 on Monday, reaching $19.54. The company had a trading volume of 622,800 shares, compared to its average volume of 386,096. The stock has a market cap of $1.05 billion, a PE ratio of -39.08 and a beta of -0.37. Codexis has a 1 year low of $8.05 and a 1 year high of $23.05.
Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.03. The firm had revenue of $16.95 million during the quarter, compared to analysts’ expectations of $14.63 million. Codexis had a negative return on equity of 25.72% and a negative net margin of 14.26%. Equities analysts anticipate that Codexis will post -0.24 EPS for the current fiscal year.
In related news, SVP James Lalonde sold 13,453 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $15.40, for a total transaction of $207,176.20. Following the sale, the senior vice president now directly owns 158,043 shares of the company’s stock, valued at approximately $2,433,862.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas R. Baruch sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $16.03, for a total value of $400,750.00. Following the sale, the director now directly owns 115,593 shares in the company, valued at $1,852,955.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 228,765 shares of company stock worth $4,102,247. 11.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Quantamental Technologies LLC acquired a new stake in shares of Codexis during the 4th quarter valued at approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Codexis by 152.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,837 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 1,711 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Codexis during the 3rd quarter valued at approximately $195,000. Financial Architects Inc raised its position in shares of Codexis by 36.3% during the 3rd quarter. Financial Architects Inc now owns 15,130 shares of the biotechnology company’s stock valued at $259,000 after acquiring an additional 4,027 shares in the last quarter. Finally, Man Group plc acquired a new stake in shares of Codexis during the 3rd quarter valued at approximately $294,000. 79.78% of the stock is currently 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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