Shares of Codexis Inc. (NASDAQ:CDXS) have received a consensus broker rating score of 1.67 (Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have given a strong buy rating to the company.
Brokerages have set a 12-month consensus target price of $6.00 for the company and are expecting that the company will post ($0.03) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Codexis an industry rank of 162 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised shares of Codexis from a “hold” rating to a “strong-buy” rating and set a $5.25 price objective on the stock in a research report on Tuesday, October 11th.
Codexis (NASDAQ:CDXS) opened at 5.00 on Tuesday. The company’s 50-day moving average is $4.64 and its 200-day moving average is $4.23. Codexis has a 52-week low of $2.93 and a 52-week high of $5.25. The firm’s market capitalization is $206.10 million.
Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.23. Codexis had a negative net margin of 10.60% and a negative return on equity of 5.25%. The company had revenue of $14.90 million for the quarter, compared to the consensus estimate of $7.41 million. During the same period in the prior year, the firm posted $0.19 EPS. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. On average, analysts predict that Codexis will post ($0.20) EPS for the current year.
In related news, major shareholder Ventures Fund Vii L.P. Vivo sold 111,600 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $4.25, for a total value of $474,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Patrick Y. Yang bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was bought at an average cost of $4.83 per share, for a total transaction of $48,300.00. Following the completion of the transaction, the director now directly owns 320,340 shares in the company, valued at $1,547,242.20. The disclosure for this purchase can be found here. 11.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blair William & Co. IL bought a new position in Codexis during the second quarter worth approximately $100,000. The Manufacturers Life Insurance Company bought a new position in Codexis during the third quarter worth approximately $115,000. Wells Fargo & Company MN increased its position in Codexis by 412.3% in the third quarter. Wells Fargo & Company MN now owns 26,279 shares of the company’s stock worth $117,000 after buying an additional 21,149 shares during the period. Rhumbline Advisers bought a new position in Codexis during the second quarter worth approximately $123,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Codexis during the third quarter worth approximately $140,000. 57.32% of the stock is currently owned by hedge funds and other institutional investors.
Codexis Company Profile
Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.