Codexis’ (CDXS) “Overweight” Rating Reiterated at Cantor Fitzgerald

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

Several other research analysts also recently weighed in on CDXS. Benchmark downgraded shares of Codexis from a buy rating to a hold rating in a research note on Monday, August 19th. Jefferies Financial Group assumed coverage on Codexis in a research note on Monday, June 3rd. They set a buy rating and a $5.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $8.75.

Codexis Stock Down 3.4 %

Shares of NASDAQ CDXS opened at $3.10 on Friday. The stock has a fifty day moving average price of $3.11 and a 200 day moving average price of $3.18. The company has a market cap of $218.73 million, a P/E ratio of -3.33 and a beta of 2.07. Codexis has a 12-month low of $1.45 and a 12-month high of $4.91. The company has a current ratio of 2.99, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46.

Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $7.98 million for the quarter, compared to analysts’ expectations of $7.64 million. Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. During the same quarter in the previous year, the business posted ($0.17) earnings per share. Research analysts anticipate that Codexis will post -0.75 EPS for the current fiscal year.

Insider Activity at Codexis

In related news, major shareholder Opaleye Management Inc. acquired 61,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was bought at an average cost of $3.16 per share, with a total value of $192,760.00. Following the acquisition, the insider now directly owns 7,380,000 shares in the company, valued at $23,320,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP raised its position in shares of Codexis by 101.2% during the 4th quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock valued at $2,553,000 after acquiring an additional 420,977 shares in the last quarter. Opaleye Management Inc. lifted its position in shares of Codexis by 172.2% in the 4th 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 during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Codexis by 0.8% in the 1st quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock valued at $12,024,000 after buying an additional 26,216 shares during the period. Private Advisor Group LLC grew its position in shares of Codexis by 22.1% during the 1st quarter. Private Advisor Group LLC now owns 231,341 shares of the biotechnology company’s stock valued at $807,000 after buying an additional 41,855 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Codexis during the first quarter worth about $97,000. Institutional investors and hedge funds own 78.54% of the company’s stock.

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.