Codexis - CDXS Stock Forecast, Price & News

Codexis, Inc. discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; 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 biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver protein engineering technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes. The company's platform is also used to discover novel biotherapeutic drug candidates for targeted human diseases, as well as for molecular biology and in vitro diagnostic enzymes. It sells its products to pharmaceutical manufacturers through its direct sales and business development force in the United States and Europe. The company was incorporated in 2002 and is headquartered in Redwood City, California.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Benchmark set a $20.00 target price on Codexis in a research note on Tuesday, July 19th. Piper Sandler decreased their target price on shares of Codexis from $35.00 to $22.00 and set an "overweight" rating for the company in a research note on Thursday, July 14th. HC Wainwright dropped their price target on shares of Codexis from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, August 8th. Craig Hallum decreased their price objective on shares of Codexis from $42.00 to $19.00 in a research report on Friday, July 15th. Finally, Cowen dropped their target price on Codexis from $39.00 to $21.00 in a research report on Friday, July 15th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Codexis has an average rating of "Moderate Buy" and a consensus target price of $21.33.

Codexis Stock Performance

Shares of CDXS Stock traded down $0.49 during trading hours on Tuesday, hitting $8.43. 15,143 shares of the company were exchanged, compared to its average volume of 1,328,027. The business's 50-day simple moving average is $9.34 and its two-hundred day simple moving average is $13.98. Codexis has a one year low of $6.15 and a one year high of $42.01. The stock has a market capitalization of $552.08 million, a price-to-earnings ratio of -29.73 and a beta of 1.62.

Codexis (NASDAQ:CDXS - Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.08. The business had revenue of $38.41 million for the quarter, compared to analyst estimates of $37.86 million. Codexis had a negative return on equity of 11.63% and a negative net margin of 14.03%. The business's revenue was up 50.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. As a group, analysts anticipate that Codexis will post -0.48 EPS for the current fiscal year.