Brokerages Set Codexis, Inc. (NASDAQ:CDXS) PT at $7.14

Codexis, Inc. (NASDAQ:CDXS) has received a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $7.14.

Several brokerages have recently weighed in on CDXS. Cantor Fitzgerald began coverage on shares of Codexis in a report on Thursday, May 30th. They issued an “overweight” rating and a $11.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $9.00 target price on shares of Codexis in a report on Friday, May 3rd. Finally, Jefferies Financial Group began coverage on shares of Codexis in a report on Monday, June 3rd. They issued a “buy” rating and a $5.00 target price on the stock.

Institutional Trading of Codexis

A number of institutional investors have recently added to or reduced their stakes in CDXS. FMR LLC boosted its holdings in Codexis by 153.7% during the third quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock worth $8,194,000 after buying an additional 2,626,400 shares in the last quarter. Opaleye Management Inc. boosted its holdings in Codexis by 172.2% during the fourth quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock worth $9,289,000 after buying an additional 1,926,625 shares in the last quarter. Kent Lake Capital LLC purchased a new stake in Codexis during the first quarter worth about $2,197,000. 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, Platinum Investment Management Ltd. purchased a new stake in shares of Codexis in the first quarter valued at about $802,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Trading Up 0.3 %

NASDAQ CDXS opened at $2.98 on Thursday. 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 $210.27 million, a PE ratio of -3.20 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 $3.26 and its two-hundred day moving average is $3.17.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $17.07 million for the quarter, compared to analyst estimates of $14.06 million. Codexis had a negative net margin of 87.73% and a negative return on equity of 41.76%. Analysts expect that Codexis will post -0.63 earnings per share for the current year.

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.