Codexis (NASDAQ:CDXS) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Codexis from "hold" to "buy," but the stock still carries a consensus "Hold" rating with a $5.00 consensus price target and mixed analyst opinions.
• Codexis beat the latest quarter's EPS and revenue estimates ($0.11 vs. $0.01 EPS; $38.92M vs. $35.83M revenue) yet remains unprofitable with a negative ROE (-90.51%) and net margin (-62.47%), and analysts expect -0.35 EPS for the current fiscal year.
• Institutional ownership is high at 78.54%, with several funds (Opaleye, Aberdeen, Millennium) recently adding large positions; the company has a market cap of about $238M and shares trading near $2.62 (1‑year range $0.96–$3.87).

Codexis (NASDAQ:CDXS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Several other research firms also recently commented on CDXS. Weiss Ratings restated a "sell (e+)" rating on shares of Codexis in a research note on Wednesday, January 21st. Cantor Fitzgerald restated an "overweight" rating on shares of Codexis in a research note on Thursday, March 12th. Finally, Stifel Nicolaus set a $5.00 price target on Codexis in a research note on Thursday, March 12th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $5.00.

Codexis Price Performance

Shares of NASDAQ:CDXS opened at $2.62 on Friday. Codexis has a 1-year low of $0.96 and a 1-year high of $3.87. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.82 and a quick ratio of 3.75. The business has a fifty day moving average price of $1.68 and a 200-day moving average price of $1.78. The company has a market capitalization of $238.08 million, a PE ratio of -5.04 and a beta of 2.08.

Codexis (NASDAQ:CDXS - Get Free Report) last released its quarterly earnings data on Wednesday, March 11th. The biotechnology company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.01 by $0.10. Codexis had a negative return on equity of 90.51% and a negative net margin of 62.47%.The company had revenue of $38.92 million during the quarter, compared to the consensus estimate of $35.83 million. As a group, equities analysts expect that Codexis will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Codexis

Several large investors have recently bought and sold shares of the business. Opaleye Management Inc. increased its position in Codexis by 32.6% in the second quarter. Opaleye Management Inc. now owns 12,600,000 shares of the biotechnology company's stock worth $30,744,000 after purchasing an additional 3,100,000 shares during the last quarter. Aberdeen Group plc increased its position in shares of Codexis by 94.7% during the 4th quarter. Aberdeen Group plc now owns 7,966,498 shares of the biotechnology company's stock valued at $12,985,000 after purchasing an additional 3,874,436 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Codexis by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,669,815 shares of the biotechnology company's stock valued at $11,394,000 after purchasing an additional 80,602 shares during the last quarter. Millennium Management LLC increased its position in shares of Codexis by 3,376.5% during the 3rd quarter. Millennium Management LLC now owns 4,067,559 shares of the biotechnology company's stock valued at $9,925,000 after purchasing an additional 3,950,557 shares during the last quarter. Finally, Nantahala Capital Management LLC increased its position in shares of Codexis by 42.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,030,619 shares of the biotechnology company's stock valued at $9,835,000 after purchasing an additional 1,200,000 shares during the last quarter. Institutional investors own 78.54% of the company's stock.

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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