Zacks: Analysts Set $6.00 Price Target for Codexis Inc. (CDXS)
Shares of Codexis Inc. (NASDAQ:CDXS) have been assigned a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company.
Brokers have set a twelve-month consensus price target of $6.00 for the company and are anticipating that the company will post ($0.14) earnings per share for the current quarter, according to Zacks. Zacks has also given Codexis an industry rank of 49 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised shares of Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th.
In other Codexis news, major shareholder Vivo Ventures Vii, Llc sold 50,000 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $4.27, for a total value of $213,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ventures Fund Vii L.P. Vivo sold 111,600 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $4.25, for a total transaction of $474,300.00. The disclosure for this sale can be found here. 11.30% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Blair William & Co. IL bought a new stake in Codexis during the second quarter valued at about $100,000. Rhumbline Advisers acquired a new stake in Codexis during the second quarter valued at approximately $123,000. Menta Capital LLC raised its stake in Codexis by 1.5% in the first quarter. Menta Capital LLC now owns 41,378 shares of the company’s stock valued at $129,000 after buying an additional 600 shares in the last quarter. Teachers Advisors Inc. acquired a new stake in Codexis during the second quarter valued at approximately $213,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in Codexis during the second quarter valued at approximately $224,000. 57.24% of the stock is owned by institutional investors.
Shares of Codexis (NASDAQ:CDXS) opened at 4.37 on Thursday. Codexis has a 12-month low of $2.93 and a 12-month high of $4.63. The stock’s market cap is $179.96 million. The stock’s 50 day moving average is $4.27 and its 200-day moving average is $3.95.
Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.09. Codexis had a negative net margin of 2.63% and a positive return on equity of 7.82%. The firm earned $16 million during the quarter, compared to analysts’ expectations of $15.10 million. During the same period in the previous year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 166.7% compared to the same quarter last year. Equities analysts expect that Codexis will post ($0.20) EPS for the current year.
Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Codexis Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Codexis Inc. and related companies with MarketBeat.com's FREE daily email newsletter.