Benchmark Reaffirms “Hold” Rating for Codexis (NASDAQ:CDXS)

Benchmark restated their hold rating on shares of Codexis (NASDAQ:CDXS) in a report published on Monday morning,Benzinga reports.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price target on shares of Codexis in a research report on Friday, September 20th.

Codexis Trading Up 4.2 %

Shares of NASDAQ:CDXS opened at $4.18 on Monday. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $3.12 and its 200 day moving average price is $3.18. The company has a market cap of $340.17 million, a PE ratio of -4.80 and a beta of 2.07. Codexis has a fifty-two week low of $1.51 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). The business had revenue of $12.83 million for the quarter, compared to the consensus estimate of $11.64 million. Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. During the same period last year, the firm posted ($0.26) EPS. Sell-side analysts anticipate that Codexis will post -0.76 earnings per share for the current year.

Insider Transactions at Codexis

In other news, major shareholder Opaleye Management Inc. purchased 1,055,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of $3.01 per share, with a total value of $3,175,550.00. Following the purchase, the insider now owns 8,390,000 shares in the company, valued at $25,253,900. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders purchased 1,166,000 shares of company stock valued at $3,514,910. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Codexis

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new position in shares of Codexis in the 2nd quarter worth approximately $54,000. Marshall Wace LLP acquired a new position in Codexis in the second quarter worth approximately $89,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Codexis in the first quarter valued at $97,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Codexis by 57.4% in 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 buying an additional 10,395 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Codexis by 72.6% during the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 15,425 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors.

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.