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.
Codexis Price Performance
NASDAQ:CDXS traded up $0.50 during trading hours on Friday, reaching $8.84. 758,561 shares of the company were exchanged, compared to its average volume of 1,953,754. Codexis has a 52-week low of $6.15 and a 52-week high of $42.01. The stock has a 50 day simple moving average of $9.35 and a 200 day simple moving average of $14.11. The firm has a market cap of $578.93 million, a price-to-earnings ratio of -29.47 and a beta of 1.61.
Codexis (NASDAQ:CDXS - Get Rating) last issued its earnings results on Thursday, August 4th. The biotechnology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.08. Codexis had a negative return on equity of 11.63% and a negative net margin of 14.03%. The business had revenue of $38.41 million for the quarter, compared to analyst estimates of $37.86 million. During the same period last year, the company posted ($0.07) EPS. The business's quarterly revenue was up 50.9% on a year-over-year basis. On average, analysts predict that Codexis will post -0.48 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. Cowen cut their price target on Codexis from $39.00 to $21.00 in a report on Friday, July 15th. HC Wainwright decreased 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. Cowen cut their price objective on shares of Codexis from $39.00 to $21.00 and set an "outperform" rating for the company in a research report on Friday, July 15th. Piper Sandler lowered 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. Finally, Benchmark set a $20.00 price target on Codexis in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Codexis has a consensus rating of "Moderate Buy" and an average price target of $21.33.