Codexis (NASDAQ:CDXS) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Codexis (NASDAQ:CDXS) in a research note released on Friday,Benzinga reports. They currently have a $11.00 price target on the biotechnology company’s stock.

Separately, Benchmark reaffirmed a “hold” rating on shares of Codexis in a research note on Monday, November 4th.

Codexis Stock Performance

Shares of CDXS stock traded up $0.14 on Friday, hitting $3.88. 1,097,404 shares of the stock were exchanged, compared to its average volume of 539,228. Codexis has a one year low of $1.85 and a one year high of $4.91. The firm’s 50 day moving average is $3.26 and its two-hundred day moving average is $3.23. The firm has a market capitalization of $315.75 million, a PE ratio of -4.46 and a beta of 2.07. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39.

Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The firm had revenue of $12.83 million during the quarter, compared to the consensus estimate of $11.64 million. Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. During the same period in the previous year, the company posted ($0.26) EPS. Sell-side analysts expect that Codexis will post -0.76 earnings per share for the current fiscal year.

Insider Activity at Codexis

In related news, major shareholder Opaleye Management Inc. purchased 45,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average price of $2.94 per share, with a total value of $132,300.00. Following the acquisition, the insider now owns 8,435,000 shares in the company, valued at $24,798,900. The trade was a 0.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 1,166,000 shares of company stock valued at $3,514,910 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Codexis

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Codexis by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,644,039 shares of the biotechnology company’s stock worth $5,065,000 after acquiring an additional 11,082 shares during the period. Barclays PLC boosted its holdings in Codexis by 51.1% in the 3rd quarter. Barclays PLC now owns 207,628 shares of the biotechnology company’s stock valued at $640,000 after purchasing an additional 70,255 shares in the last quarter. State Street Corp boosted its holdings in Codexis by 2.7% in the 3rd quarter. State Street Corp now owns 1,551,411 shares of the biotechnology company’s stock valued at $4,778,000 after purchasing an additional 41,480 shares in the last quarter. FMR LLC increased its position in Codexis by 1.2% during the 3rd quarter. FMR LLC now owns 4,497,090 shares of the biotechnology company’s stock worth $13,851,000 after purchasing an additional 51,822 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Codexis during the 3rd quarter worth approximately $66,000. Institutional investors and hedge funds own 78.54% of the company’s stock.

About Codexis

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.