Codexis (NASDAQ:CDXS) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Codexis (NASDAQ:CDXS) from "Buy" to "Hold," and MarketBeat shows a consensus "Hold" rating with an average price target of $5.00 amid mixed analyst views (Cantor Fitzgerald overweight; Weiss Ratings sell).
• Shares opened at $2.67 and were trading down about 5.3%, with a 12‑month range of $0.96–$3.87, market cap ~$243 million, and a negative P/E of -5.13.
• Codexis beat quarterly EPS ($0.11 vs $0.01 est.) and revenue ($38.92M vs $35.83M) but still posted a negative net margin (~62%) and negative ROE (~-90%); analysts expect -$0.43 EPS for the current fiscal year.

Codexis (NASDAQ:CDXS - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.

Several other equities analysts also recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Codexis in a report on Thursday, March 12th. Stifel Nicolaus set a $5.00 price objective on shares of Codexis in a report on Thursday, March 12th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Codexis in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Codexis currently has a consensus rating of "Hold" and an average price target of $5.00.

Codexis Trading Down 5.3%

Shares of Codexis stock opened at $2.67 on Friday. The company has a quick ratio of 3.75, a current ratio of 3.82 and a debt-to-equity ratio of 0.79. Codexis has a 12-month low of $0.96 and a 12-month high of $3.87. The stock has a market capitalization of $242.70 million, a P/E ratio of -5.13 and a beta of 2.52. The company has a 50-day simple moving average of $1.81 and a 200 day simple moving average of $1.78.

Codexis (NASDAQ:CDXS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 11th. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.10. Codexis had a negative net margin of 62.47% and a negative return on equity of 90.51%. The company had revenue of $38.92 million for the quarter, compared to the consensus estimate of $35.83 million. Research analysts expect that Codexis will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Codexis

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. bought a new stake in shares of Codexis in the 3rd quarter valued at $25,000. State of Wyoming bought a new stake in shares of Codexis in the 2nd quarter valued at $25,000. CIBC Bancorp USA Inc. bought a new stake in shares of Codexis in the 3rd quarter valued at $26,000. Crux Wealth Advisors bought a new stake in shares of Codexis in the 3rd quarter valued at $33,000. Finally, Navalign LLC bought a new stake in shares of Codexis in the 4th quarter valued at $25,000. 78.54% of the stock is owned by institutional investors.

Codexis Company Profile

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.

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