Cantor Fitzgerald Reiterates Overweight Rating for Codexis (NASDAQ:CDXS)

Codexis (NASDAQ:CDXS)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a report issued on Friday, Benzinga reports. They presently have a $11.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 292.86% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Codexis in a report on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target for the company. Benchmark reissued a “buy” rating and set a $9.00 target price on shares of Codexis in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Codexis Price Performance

Shares of CDXS traded down $0.35 during midday trading on Friday, reaching $2.80. The stock had a trading volume of 719,232 shares, compared to its average volume of 505,189. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.71 and a quick ratio of 3.63. The company has a market capitalization of $197.56 million, a P/E ratio of -3.01 and a beta of 2.12. The firm’s 50 day moving average price is $3.23 and its 200-day moving average price is $3.24. Codexis has a 52 week low of $1.45 and a 52 week high of $4.91.

Institutional Trading of Codexis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in shares of Codexis by 674.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock worth $46,000 after acquiring an additional 13,203 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Codexis during the 2nd quarter worth approximately $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Codexis during the 1st quarter valued at $97,000. State Board of Administration of Florida Retirement System boosted its position in shares of Codexis by 57.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after buying an additional 10,395 shares during the period. Finally, SG Americas Securities LLC grew its holdings in shares of Codexis by 72.6% during the second quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 15,425 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Codexis Company Profile

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.