Codexis, Inc. (NASDAQ:CDXS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Codexis, Inc. (NASDAQ:CDXS) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $6.80.

Several equities analysts have recently issued reports on CDXS shares. Benchmark upgraded Codexis from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Thursday, February 29th. StockNews.com upgraded Codexis to a “sell” rating in a research report on Tuesday, March 5th.

Codexis Trading Up 1.1 %

NASDAQ:CDXS opened at $2.83 on Friday. The firm has a market capitalization of $198.95 million, a PE ratio of -2.55 and a beta of 2.01. The stock has a 50 day moving average of $3.32 and a 200-day moving average of $2.70. Codexis has a 52 week low of $1.45 and a 52 week high of $4.91.

Codexis (NASDAQ:CDXS) last posted its earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.18. The company had revenue of $26.56 million during the quarter, compared to analyst estimates of $24.73 million. Codexis had a negative return on equity of 47.58% and a negative net margin of 108.69%. As a group, analysts predict that Codexis will post -0.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Codexis

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Codexis in the third quarter worth approximately $786,000. Assenagon Asset Management S.A. lifted its position in Codexis by 156.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,753,443 shares of the biotechnology company’s stock worth $3,314,000 after purchasing an additional 1,071,002 shares during the period. FMR LLC lifted its position in Codexis by 153.7% in the third quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock worth $8,194,000 after purchasing an additional 2,626,400 shares during the period. Algert Global LLC lifted its position in Codexis by 8.9% in the third quarter. Algert Global LLC now owns 107,080 shares of the biotechnology company’s stock worth $202,000 after purchasing an additional 8,720 shares during the period. Finally, Barclays PLC lifted its position in Codexis by 262.6% in the third quarter. Barclays PLC now owns 155,055 shares of the biotechnology company’s stock worth $294,000 after purchasing an additional 112,289 shares during the period. 78.54% of the stock is currently owned by institutional investors and hedge funds.

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.