Codexis Inc. (NASDAQ:CDXS) has been given a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.
Analysts have set a 1-year consensus price objective of $6.00 for the company and are predicting that the company will post ($0.14) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Codexis an industry rank of 160 out of 265 based on the ratings given to its competitors.
A number of brokerages recently weighed in on CDXS. Zacks Investment Research raised shares of Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. HC Wainwright began coverage on shares of Codexis in a research note on Wednesday, June 1st. They issued a “buy” rating and a $6.00 target price for the company.
Shares of Codexis (NASDAQ:CDXS) opened at 4.32 on Friday. The firm’s market capitalization is $177.90 million. The company’s 50-day moving average price is $4.21 and its 200-day moving average price is $3.86. Codexis has a 52-week low of $2.93 and a 52-week high of $4.63.
Codexis (NASDAQ:CDXS) last announced its earnings results on Tuesday, August 9th. The company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.09. The firm earned $16 million during the quarter, compared to analyst estimates of $15.10 million. Codexis had a negative net margin of 2.63% and a positive return on equity of 7.82%. The company’s revenue for the quarter was up 166.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.14) EPS. On average, equities research analysts expect that Codexis will post ($0.20) EPS for the current fiscal year.
In other news, major shareholder Ventures Fund Vii L.P. Vivo sold 86,894 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $4.25, for a total value of $369,299.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dennis P. Wolf sold 18,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $4.22, for a total transaction of $75,960.00. Following the completion of the sale, the director now directly owns 132,360 shares in the company, valued at $558,559.20. The disclosure for this sale can be found here. Insiders own 11.30% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Vivo Capital LLC purchased a new stake in shares of Codexis during the first quarter worth about $17,333,000. BlackRock Fund Advisors boosted its stake in shares of Codexis by 957.9% in the second quarter. BlackRock Fund Advisors now owns 876,101 shares of the company’s stock worth $3,531,000 after buying an additional 793,284 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Codexis during the second quarter worth about $2,702,000. State Street Corp purchased a new stake in shares of Codexis during the second quarter worth about $1,504,000. Finally, Palisade Capital Management LLC NJ purchased a new stake in shares of Codexis during the second quarter worth about $991,000. 57.24% of the stock is currently owned by institutional investors.
Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.
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