Codexis, Inc. (NASDAQ:CDXS) Receives $6.80 Average Target Price from Analysts

Shares of Codexis, Inc. (NASDAQ:CDXS - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the five analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $6.80.

Several equities research analysts have recently issued reports on the stock. Benchmark reiterated a "buy" rating and set a $9.00 price objective on shares of Codexis in a research report on Friday, May 3rd. StockNews.com upgraded shares of Codexis to a "sell" rating in a research report on Tuesday, March 5th.

Codexis Stock Performance

NASDAQ CDXS traded up $0.05 on Wednesday, reaching $3.70. 401,539 shares of the stock were exchanged, compared to its average volume of 562,620. Codexis has a one year low of $1.45 and a one year high of $4.91. The firm has a market capitalization of $261.07 million, a PE ratio of -3.98 and a beta of 2.04. The company's 50-day simple moving average is $3.26 and its two-hundred day simple moving average is $2.88. The company has a current ratio of 3.71, a quick ratio of 3.63 and a debt-to-equity ratio of 0.35.

Codexis (NASDAQ:CDXS - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.18. The firm had revenue of $26.56 million for the quarter, compared to analysts' expectations of $24.73 million. Codexis had a negative net margin of 87.73% and a negative return on equity of 41.76%. Analysts expect that Codexis will post -0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC purchased a new position in shares of Codexis in the third quarter valued at $42,000. Perkins Capital Management Inc. purchased a new position in Codexis during the third quarter worth $43,000. Tower Research Capital LLC TRC boosted its stake in Codexis by 674.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company's stock worth $46,000 after buying an additional 13,203 shares during the period. SG Americas Securities LLC purchased a new position in Codexis during the third quarter worth $50,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Codexis during the third quarter worth $70,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

Codexis Company Profile

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.