Codexis (NASDAQ:CDXS) has been assigned a $17.00 target price by investment analysts at HC Wainwright in a report issued on Monday, November 12th. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential downside of 22.37% from the company’s current price.
Several other equities analysts have also recently issued reports on CDXS. BidaskClub cut Codexis from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research raised Codexis from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, August 16th. Finally, Craig Hallum boosted their target price on shares of Codexis from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $17.40.
Shares of CDXS traded down $0.67 during mid-day trading on Monday, reaching $21.90. The company had a trading volume of 688,135 shares, compared to its average volume of 327,742. Codexis has a 52 week low of $6.50 and a 52 week high of $23.05. The stock has a market cap of $1.18 billion, a P/E ratio of -43.80 and a beta of -1.45.
Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business had revenue of $16.95 million for the quarter, compared to analysts’ expectations of $14.63 million. Codexis had a negative return on equity of 25.72% and a negative net margin of 14.26%. As a group, sell-side analysts forecast that Codexis will post -0.23 EPS for the current fiscal year.
In other Codexis news, Director Patrick Y. Yang sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $18.20, for a total transaction of $910,000.00. Following the completion of the sale, the director now directly owns 128,817 shares in the company, valued at approximately $2,344,469.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP James Lalonde sold 13,453 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $15.40, for a total value of $207,176.20. Following the completion of the sale, the senior vice president now owns 158,043 shares of the company’s stock, valued at $2,433,862.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,152 shares of company stock valued at $4,799,311. Company insiders own 11.40% of the company’s stock.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Codexis by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,267,934 shares of the biotechnology company’s stock worth $38,895,000 after purchasing an additional 164,817 shares during the period. Teachers Advisors LLC raised its position in Codexis by 4.8% in the 3rd quarter. Teachers Advisors LLC now owns 93,973 shares of the biotechnology company’s stock worth $1,612,000 after purchasing an additional 4,320 shares during the period. AQR Capital Management LLC raised its position in Codexis by 43.2% in the 3rd quarter. AQR Capital Management LLC now owns 89,111 shares of the biotechnology company’s stock worth $1,528,000 after purchasing an additional 26,899 shares during the period. MetLife Investment Advisors LLC raised its position in Codexis by 62.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 34,904 shares of the biotechnology company’s stock worth $599,000 after purchasing an additional 13,441 shares during the period. Finally, Putnam Investments LLC purchased a new stake in Codexis in the 3rd quarter worth about $3,146,000. Hedge funds and other institutional investors own 80.33% of the company’s stock.
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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