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

Codexis, Inc. (NASDAQ:CDXS) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $6.80.

CDXS has been the topic of a number of research analyst reports. Benchmark raised shares of Codexis from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Thursday, February 29th. StockNews.com raised shares of Codexis to a “sell” rating in a research note on Tuesday, March 5th.

Institutional Trading of Codexis

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDXS. SG Americas Securities LLC acquired a new stake in shares of Codexis during the 3rd quarter worth approximately $50,000. Commonwealth Equity Services LLC bought a new stake in shares of Codexis during the 3rd quarter valued at $42,000. Strs Ohio raised its position in shares of Codexis by 62.0% during the 3rd quarter. Strs Ohio now owns 295,400 shares of the biotechnology company’s stock valued at $558,000 after acquiring an additional 113,100 shares during the last quarter. Olympiad Research LP acquired a new position in shares of Codexis in the 3rd quarter valued at $100,000. Finally, Perkins Capital Management Inc. bought a new position in shares of Codexis in the 3rd quarter worth $43,000. 78.54% of the stock is owned by institutional investors.

Codexis Price Performance

Shares of CDXS opened at $2.66 on Friday. The company has a market capitalization of $187.01 million, a P/E ratio of -2.40 and a beta of 2.01. Codexis has a one year low of $1.45 and a one year high of $4.91. The business’s 50 day simple moving average is $3.30 and its 200-day simple moving average is $2.73.

Codexis (NASDAQ:CDXS) last announced its earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.18. Codexis had a negative return on equity of 47.58% and a negative net margin of 108.69%. The company had revenue of $26.56 million for the quarter, compared to analysts’ expectations of $24.73 million. On average, sell-side analysts anticipate that Codexis will post -0.6 EPS for the current fiscal year.

About Codexis

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.