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

Shares of Codexis, Inc. (NASDAQ:CDXSGet Free Report) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.80.

Several research analysts have weighed in on CDXS shares. StockNews.com raised shares of Codexis to a “sell” rating in a report on Tuesday, March 5th. Benchmark raised shares of Codexis from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a report on Thursday, February 29th.

Read Our Latest Report on Codexis

Codexis Stock Performance

Shares of NASDAQ:CDXS opened at $3.45 on Tuesday. Codexis has a 52-week low of $1.45 and a 52-week high of $4.91. The company has a market capitalization of $242.54 million, a P/E ratio of -3.11 and a beta of 2.04. The company has a 50-day simple moving average of $3.18 and a 200 day simple moving average of $2.53.

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

Institutional Trading of Codexis

A number of large investors have recently bought and sold shares of CDXS. JPMorgan Chase & Co. grew its holdings in Codexis by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 52,116 shares of the biotechnology company’s stock worth $1,075,000 after acquiring an additional 8,870 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Codexis by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 220,879 shares of the biotechnology company’s stock worth $4,554,000 after purchasing an additional 1,618 shares in the last quarter. US Bancorp DE boosted its position in shares of Codexis by 517.5% during the 1st quarter. US Bancorp DE now owns 8,380 shares of the biotechnology company’s stock worth $172,000 after purchasing an additional 7,023 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Codexis by 55.6% during the 1st quarter. MetLife Investment Management LLC now owns 32,963 shares of the biotechnology company’s stock worth $680,000 after purchasing an additional 11,784 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Codexis by 0.7% during the 1st quarter. BlackRock Inc. now owns 5,183,443 shares of the biotechnology company’s stock worth $106,885,000 after purchasing an additional 38,494 shares in the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.

Codexis Company Profile

(Get Free Report

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.

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Analyst Recommendations for Codexis (NASDAQ:CDXS)

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