Zacks Investment Research upgraded shares of Codexis Inc. (NASDAQ:CDXS) from a hold rating to a strong-buy rating in a research note published on Tuesday. The firm currently has $5.25 price target on the stock.
According to Zacks, “Codexis, Inc. is a leading protein engineering company that applies its technology to the development of biocatalysts for the commercial manufacture of pharmaceuticals and fine chemicals. Codexis’ proven technology enables implementation of biocatalytic solutions to meet customer needs for rapid, cost-effective and sustainable manufacturing. “
Codexis (NASDAQ:CDXS) traded up 1.1393% during mid-day trading on Tuesday, reaching $4.4299. The company had a trading volume of 613 shares. Codexis has a 52 week low of $2.93 and a 52 week high of $4.63. The stock’s 50-day moving average price is $4.26 and its 200 day moving average price is $3.93. The firm’s market capitalization is $182.43 million.
Codexis (NASDAQ:CDXS) last announced its earnings results on Tuesday, August 9th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. The business had revenue of $16 million for the quarter, compared to analysts’ expectations of $15.10 million. Codexis had a positive return on equity of 7.82% and a negative net margin of 2.63%. The business’s revenue for the quarter was up 166.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) EPS. On average, equities research analysts predict that Codexis will post ($0.20) EPS for the current year.
In other news, major shareholder Vivo Ventures Vii, Llc sold 50,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $4.27, for a total value of $213,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ventures Fund Vii L.P. Vivo sold 80,000 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $4.22, for a total value of $337,600.00. The disclosure for this sale can be found here. Company insiders own 11.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Blair William & Co. IL acquired a new stake in Codexis during the second quarter worth $100,000. Rhumbline Advisers acquired a new stake in Codexis during the second quarter worth $123,000. Menta Capital LLC boosted its stake in Codexis by 1.5% in the first quarter. Menta Capital LLC now owns 41,378 shares of the company’s stock worth $129,000 after buying an additional 600 shares during the last quarter. Teachers Advisors Inc. acquired a new stake in Codexis during the second quarter worth $213,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Codexis during the second quarter worth $224,000. 57.24% of the stock is owned by hedge funds and other institutional investors.
Codexis Company Profile
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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