Codexis (NASDAQ:CDXS) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Codexis (NASDAQ:CDXS) in a research report report published on Friday,Benzinga reports. Cantor Fitzgerald 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 Trading Up 6.5 %

Shares of CDXS stock opened at $4.61 on Friday. Codexis has a 12 month low of $1.85 and a 12 month high of $4.91. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. The company has a market cap of $375.16 million, a PE ratio of -5.30 and a beta of 2.07. The business’s 50 day moving average is $3.42 and its two-hundred day moving average is $3.26.

Codexis (NASDAQ:CDXS) last announced its 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). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The business had revenue of $12.83 million during the quarter, compared to analyst estimates of $11.64 million. During the same period in the previous year, the firm earned ($0.26) earnings per share. Equities analysts predict that Codexis will post -0.76 EPS for the current year.

Insider Activity at Codexis

In related news, major shareholder Opaleye Management Inc. acquired 45,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was acquired at an average cost of $2.94 per share, for a total transaction of $132,300.00. Following the completion of the acquisition, the insider now directly owns 8,435,000 shares of the company’s stock, valued at approximately $24,798,900. This trade represents a 0.54 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased a total of 1,166,000 shares of company stock valued at $3,514,910 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Codexis

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC lifted its holdings in shares of 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 purchasing an additional 3,458 shares in the last quarter. Rhumbline Advisers grew its position in Codexis by 3.8% during the second quarter. Rhumbline Advisers now owns 108,594 shares of the biotechnology company’s stock worth $337,000 after buying an additional 4,017 shares in the last quarter. Perkins Capital Management Inc. grew its position in Codexis by 2.8% in the third quarter. Perkins Capital Management Inc. now owns 164,100 shares of the biotechnology company’s stock worth $505,000 after acquiring an additional 4,500 shares in the last quarter. Algert Global LLC lifted its holdings in shares of 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 acquiring an additional 6,069 shares during the last quarter. Finally, Empire Financial Management Company LLC lifted its position in Codexis by 4.7% in the third quarter. Empire Financial Management Company LLC now owns 222,952 shares of the biotechnology company’s stock valued at $687,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors 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.