Codexis’ (CDXS) Buy Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Codexis (NASDAQ:CDXS) in a research report report published on Friday, Benzinga reports. Benchmark currently has a $9.00 target price on the biotechnology company’s stock.

Separately, StockNews.com raised Codexis to a sell rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $6.80.

Codexis Stock Performance

Shares of CDXS opened at $3.56 on Friday. The firm has a fifty day moving average of $3.33 and a 200-day moving average of $2.78. The company has a market cap of $251.19 million, a price-to-earnings ratio of -3.83 and a beta of 2.04. Codexis has a 1 year low of $1.45 and a 1 year high of $4.91.

Codexis (NASDAQ:CDXS) last announced its earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 EPS for the quarter, topping 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 return on equity of 39.53% and a negative net margin of 87.73%. Analysts predict that Codexis will post -0.6 EPS for the current year.

Hedge Funds Weigh In On Codexis

A number of hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC acquired a new position in shares of Codexis in the 3rd quarter valued at about $42,000. Perkins Capital Management Inc. bought a new stake in shares of Codexis during the 3rd quarter worth about $43,000. Tower Research Capital LLC TRC increased its holdings in shares of Codexis by 674.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 13,203 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Codexis during the 3rd quarter worth $50,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Codexis during the 3rd quarter worth $70,000. 78.54% of the stock is currently owned by institutional investors and hedge funds.

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.