Codexis, Inc. (NASDAQ:CDXS) has earned an average recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.50.
A number of equities research analysts have recently issued reports on the stock. Craig Hallum boosted their price target on shares of Codexis from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. BidaskClub upgraded shares of Codexis from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. Finally, Zacks Investment Research lowered shares of Codexis from a “strong-buy” rating to a “hold” rating in a report on Monday, October 15th.
In other news, Director Patrick Y. Yang sold 150,340 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $14.45, for a total transaction of $2,172,413.00. Following the sale, the director now owns 120,896 shares in the company, valued at $1,746,947.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas R. Baruch sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $18.54, for a total transaction of $463,500.00. Following the sale, the director now owns 140,593 shares in the company, valued at approximately $2,606,594.22. The disclosure for this sale can be found here. Insiders have sold 508,329 shares of company stock worth $8,354,797 in the last 90 days. 11.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Codexis by 5.2% during the third quarter. BlackRock Inc. now owns 3,579,527 shares of the biotechnology company’s stock valued at $61,389,000 after purchasing an additional 176,952 shares in the last quarter. Bank of New York Mellon Corp grew its position in Codexis by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 208,471 shares of the biotechnology company’s stock valued at $3,576,000 after purchasing an additional 4,439 shares in the last quarter. AXA purchased a new position in Codexis during the third quarter valued at approximately $384,000. JPMorgan Chase & Co. grew its position in Codexis by 80.3% during the third quarter. JPMorgan Chase & Co. now owns 18,639 shares of the biotechnology company’s stock valued at $319,000 after purchasing an additional 8,299 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Codexis during the third quarter valued at approximately $351,000. 77.40% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ CDXS opened at $15.71 on Wednesday. Codexis has a 12 month low of $5.70 and a 12 month high of $19.60.
Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.03. Codexis had a negative net margin of 29.83% and a negative return on equity of 61.93%. The business had revenue of $16.95 million for the quarter, compared to analyst estimates of $14.63 million. On average, research analysts expect that Codexis will post -0.2 EPS for the current year.
Codexis Company Profile
Codexis, Inc discovers, develops, and sells protein catalysts. It also offers 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 protein catalyst screening and protein engineering services.
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