Brokerages Set Codexis, Inc. (NASDAQ:CDXS) Target Price at $34.20

Codexis, Inc. (NASDAQ:CDXS – Get Rating) has earned an average rating of “Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $34.20.

Several research analysts have issued reports on CDXS shares. Zacks Investment Research lowered Codexis from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. StockNews.com initiated coverage on Codexis in a report on Thursday, March 31st. They issued a “sell” rating on the stock. TheStreet cut Codexis from a “c-” rating to a “d” rating in a report on Thursday, February 24th. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of Codexis in a report on Friday, February 25th. Finally, Cowen initiated coverage on Codexis in a report on Wednesday, March 2nd. They set a “buy” rating and a $39.00 price objective on the stock.

CDXS opened at $11.05 on Wednesday. Codexis has a 1-year low of $9.47 and a 1-year high of $42.01. The stock has a market capitalization of $721.61 million, a price-to-earnings ratio of -33.48 and a beta of 1.96. The business has a 50 day moving average of $15.20 and a 200-day moving average of $22.32.

Codexis (NASDAQ:CDXS – Get Rating) last issued its earnings results on Thursday, May 5th. The biotechnology company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. The business had revenue of $35.34 million during the quarter, compared to analyst estimates of $28.58 million. Codexis had a negative return on equity of 12.56% and a negative net margin of 16.85%. Codexis’s revenue was up 96.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) earnings per share. Equities research analysts anticipate that Codexis will post -0.44 EPS for the current fiscal year.

In related news, CEO John J. Nicols sold 38,500 shares of the business’s stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $10.31, for a total value of $396,935.00. Following the completion of the sale, the chief executive officer now directly owns 1,022,679 shares in the company, valued at approximately $10,543,820.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis P. Wolf sold 4,000 shares of the company’s stock in a transaction on Wednesday, March 23rd. The shares were sold at an average price of $20.49, for a total value of $81,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 81,000 shares of company stock worth $1,207,700 in the last ninety days. Insiders own 7.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its position in shares of Codexis by 32.9% during the 3rd quarter. US Bancorp DE now owns 1,350 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 334 shares in the last quarter. Quantbot Technologies LP bought a new position in Codexis in the first quarter worth approximately $33,000. Advisor Group Holdings Inc. boosted its holdings in Codexis by 70.4% in the third quarter. Advisor Group Holdings Inc. now owns 3,814 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 1,576 shares in the last quarter. Point72 Hong Kong Ltd boosted its holdings in Codexis by 372.3% in the fourth quarter. Point72 Hong Kong Ltd now owns 4,161 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 3,280 shares in the last quarter. Finally, State of Tennessee Treasury Department bought a new position in Codexis in the fourth quarter worth approximately $134,000.

About Codexis (Get Rating)

Codexis, Inc discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.

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