Codexis (NASDAQ:CDXS) Receives Overweight Rating from Cantor Fitzgerald

Codexis (NASDAQ:CDXS)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued on Friday,Benzinga reports. They currently have a $11.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s price target points to a potential upside of 154.04% from the stock’s current price.

Separately, Benchmark reaffirmed a “hold” rating on shares of Codexis in a report on Monday, November 4th.

Codexis Stock Performance

Shares of NASDAQ CDXS opened at $4.33 on Friday. The company has a market cap of $352.38 million, a P/E ratio of -4.98 and a beta of 2.07. Codexis has a 52-week low of $1.85 and a 52-week high of $4.91. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21. The firm’s fifty day moving average is $3.38 and its two-hundred day moving average is $3.25.

Codexis (NASDAQ:CDXS) last issued its earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The firm had revenue of $12.83 million during the quarter, compared to the consensus estimate of $11.64 million. Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. During the same period last year, the firm posted ($0.26) earnings per share. As a group, analysts anticipate that Codexis will post -0.76 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Opaleye Management Inc. bought 61,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average price of $3.16 per share, with a total value of $192,760.00. Following the transaction, the insider now owns 7,380,000 shares in the company, valued at $23,320,800. This trade represents a 0.83 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have acquired 1,166,000 shares of company stock worth $3,514,910. 2.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Codexis

A number of institutional investors have recently bought and sold shares of CDXS. Kent Lake Capital LLC purchased a new position in shares of Codexis during the first quarter valued at approximately $2,197,000. abrdn plc boosted its holdings in Codexis by 62.5% during the 3rd quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock valued at $2,465,000 after acquiring an additional 307,762 shares during the period. Assenagon Asset Management S.A. grew its position in Codexis by 23.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock valued at $3,399,000 after acquiring an additional 209,207 shares during the last quarter. Vanguard Group Inc. increased its stake in Codexis by 3.1% in the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock worth $14,861,000 after purchasing an additional 129,773 shares during the period. Finally, AQR Capital Management LLC increased its stake in Codexis by 82.4% in the second quarter. AQR Capital Management LLC now owns 237,272 shares of the biotechnology company’s stock worth $736,000 after purchasing an additional 107,205 shares during the period. 78.54% of the stock is currently owned by institutional investors.

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.