Analysts Set Codexis, Inc. (NASDAQ:CDXS) Price Target at $7.14

Codexis, Inc. (NASDAQ:CDXS) has earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $7.14.

A number of analysts have weighed in on the stock. Benchmark reissued a “buy” rating and set a $9.00 target price on shares of Codexis in a research report on Friday, May 3rd. StockNews.com upgraded shares of Codexis to a “sell” rating in a research report on Tuesday, March 5th. Jefferies Financial Group began coverage on shares of Codexis in a research note on Monday, June 3rd. They set a “buy” rating and a $5.00 target price for the company. Finally, Cantor Fitzgerald started coverage on shares of Codexis in a research report on Thursday, May 30th. They set an “overweight” rating and a $11.00 price target on the stock.

Codexis Stock Performance

NASDAQ CDXS opened at $3.05 on Friday. The company has a market capitalization of $215.21 million, a price-to-earnings ratio of -3.28 and a beta of 2.10. The company has a quick ratio of 3.63, a current ratio of 3.71 and a debt-to-equity ratio of 0.35. Codexis has a twelve month low of $1.45 and a twelve month high of $4.91. The stock has a fifty day simple moving average of $3.25 and a 200 day simple moving average of $3.11.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings 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. Vanguard Group Inc. boosted its position in shares of Codexis by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock worth $14,861,000 after purchasing an additional 129,773 shares in the last quarter. Baillie Gifford & Co. grew its stake 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. Opaleye Management Inc. increased its position in Codexis by 2.4% in the 1st quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock valued at $10,889,000 after buying an additional 74,475 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Codexis by 25.8% during the 3rd quarter. Acadian Asset Management LLC now owns 949,916 shares of the biotechnology company’s stock worth $1,793,000 after buying an additional 194,898 shares during the period. 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.