Codexis (NASDAQ:CDXS) Upgraded to “Hold” at Wall Street Zen

Codexis (NASDAQ:CDXS) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

CDXS has been the subject of a number of other reports. Stifel Nicolaus set a $5.00 target price on shares of Codexis in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Codexis in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Codexis in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Codexis Trading Down 5.8%

NASDAQ:CDXS opened at $1.61 on Friday. The company has a market capitalization of $145.42 million, a PE ratio of -3.10 and a beta of 2.49. Codexis has a 52-week low of $0.96 and a 52-week high of $3.87. The stock’s 50 day moving average price is $1.38 and its 200 day moving average price is $1.88. The company has a quick ratio of 4.02, a current ratio of 4.12 and a debt-to-equity ratio of 1.03.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Wednesday, March 11th. The biotechnology company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.10. The company had revenue of $38.92 million during the quarter, compared to analysts’ expectations of $35.83 million. Codexis had a negative return on equity of 91.74% and a negative net margin of 62.47%. On average, research analysts anticipate that Codexis will post -0.77 EPS for the current year.

Institutional Investors Weigh In On Codexis

Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of Codexis during the 3rd quarter worth $25,000. State of Wyoming acquired a new position in Codexis during the second quarter worth about $25,000. CIBC Bancorp USA Inc. acquired a new position in Codexis during the third quarter worth about $26,000. Crux Wealth Advisors purchased a new stake in shares of Codexis in the third quarter valued at about $33,000. Finally, Navalign LLC purchased a new stake in shares of Codexis in the fourth quarter valued at about $25,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

About Codexis

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.