Cantor Fitzgerald Reaffirms Overweight Rating for Codexis (NASDAQ:CDXS)

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

Separately, Benchmark reiterated a “hold” rating on shares of Codexis in a report on Monday, November 4th.

Codexis Trading Up 1.3 %

CDXS opened at $3.93 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.21 and a quick ratio of 3.15. The firm has a market capitalization of $319.82 million, a price-to-earnings ratio of -4.52 and a beta of 2.07. The business has a 50 day simple moving average of $3.28 and a two-hundred day simple moving average of $3.24. Codexis has a one year low of $1.85 and a one year high of $4.91.

Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). The company 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 earned ($0.26) earnings per share. Analysts predict that Codexis will post -0.76 EPS for the current year.

Insider Activity

In other news, major shareholder Opaleye Management Inc. purchased 61,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average cost of $3.16 per share, for a total transaction of $192,760.00. Following the purchase, the insider now directly owns 7,380,000 shares in the company, valued at approximately $23,320,800. This represents a 0.83 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 1,166,000 shares of company stock valued at $3,514,910 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Codexis

A number of large investors have recently made changes to their positions in CDXS. Los Angeles Capital Management LLC bought a new stake in Codexis during the second quarter valued at about $54,000. Intech Investment Management LLC bought a new position in Codexis during the third quarter valued at $66,000. Marshall Wace LLP purchased a new position in Codexis in the second quarter worth about $89,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Codexis in the 1st quarter worth approximately $97,000. Finally, State Board of Administration of Florida Retirement System increased its position in Codexis by 57.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after acquiring an additional 10,395 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors.

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.