Codexis’ (CDXS) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Codexis (NASDAQ:CDXS) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $11.00 price objective on the biotechnology company’s stock.

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

Codexis Price Performance

CDXS stock opened at $4.61 on Friday. The stock has a market capitalization of $375.15 million, a price-to-earnings ratio of -5.30 and a beta of 2.07. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. Codexis has a 52-week low of $1.85 and a 52-week high of $4.91. The stock’s fifty day simple moving average is $3.42 and its 200-day simple moving average is $3.26.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The business had revenue of $12.83 million during the quarter, compared to analysts’ expectations 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 last year, the firm earned ($0.26) EPS. Equities research analysts expect that Codexis will post -0.76 EPS for the current year.

Insider Buying and Selling at Codexis

In related news, major shareholder Opaleye Management Inc. acquired 61,000 shares of Codexis stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $3.16 per share, for a total transaction of $192,760.00. Following the completion of the purchase, the insider now directly owns 7,380,000 shares in the company, valued at $23,320,800. This trade represents a 0.83 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 1,166,000 shares of company stock valued at $3,514,910 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Codexis

Hedge funds have recently modified their holdings of the stock. Private Advisor Group LLC grew its position in Codexis by 1.3% in the third quarter. Private Advisor Group LLC now owns 278,699 shares of the biotechnology company’s stock valued at $858,000 after acquiring an additional 3,458 shares in the last quarter. Rhumbline Advisers grew its holdings in Codexis by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 108,594 shares of the biotechnology company’s stock valued at $337,000 after purchasing an additional 4,017 shares in the last quarter. Perkins Capital Management Inc. increased its stake in Codexis by 2.8% during the 3rd quarter. Perkins Capital Management Inc. now owns 164,100 shares of the biotechnology company’s stock worth $505,000 after buying an additional 4,500 shares during the period. Algert Global LLC lifted its holdings in Codexis by 17.1% in the 2nd quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock worth $129,000 after buying an additional 6,069 shares in the last quarter. Finally, Empire Financial Management Company LLC boosted its position in Codexis by 4.7% in the 3rd quarter. Empire Financial Management Company LLC now owns 222,952 shares of the biotechnology company’s stock valued at $687,000 after buying an additional 10,000 shares during the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

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.