Codexis (NASDAQ:CDXS) Earns “Hold” Rating from Benchmark

Codexis (NASDAQ:CDXS)‘s stock had its “hold” rating reissued by equities researchers at Benchmark in a research note issued on Monday, Benzinga reports.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price target on shares of Codexis in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Codexis has an average rating of “Hold” and a consensus target price of $8.75.

Codexis Stock Up 9.5 %

Shares of Codexis stock opened at $3.82 on Monday. Codexis has a 52-week low of $1.51 and a 52-week high of $4.91. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21. The business’s 50 day simple moving average is $3.06 and its 200 day simple moving average is $3.16. The firm has a market cap of $310.87 million, a PE ratio of -4.39 and a beta of 2.07.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. The company had revenue of $12.83 million during the quarter, compared to the consensus estimate of $11.64 million. During the same quarter in the previous year, the business earned ($0.26) EPS. On average, analysts predict that Codexis will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at Codexis

In related news, major shareholder Opaleye Management Inc. bought 61,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were purchased at an average price of $3.16 per share, with a total value of $192,760.00. Following the completion of the purchase, the insider now owns 7,380,000 shares in the company, valued at $23,320,800. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders purchased 1,166,000 shares of company stock valued at $3,514,910. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Codexis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in Codexis during the second quarter valued at $54,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Codexis during the 1st quarter valued at about $97,000. State Board of Administration of Florida Retirement System boosted its position in shares of Codexis by 57.4% during the 1st 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 purchasing an additional 10,395 shares in the last quarter. Marshall Wace LLP acquired a new stake in Codexis during the second quarter worth approximately $89,000. Finally, SG Americas Securities LLC increased its holdings in Codexis by 72.6% in the second quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 15,425 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Codexis Company Profile

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.