Codexis (NASDAQ:CDXS) Given Overweight Rating at Cantor Fitzgerald

Codexis (NASDAQ:CDXS)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a note issued to investors on Friday,Benzinga reports. They presently have a $11.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 138.61% from the stock’s current price.

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

Codexis Trading Up 6.5 %

CDXS stock opened at $4.61 on Friday. Codexis has a 12 month low of $1.85 and a 12 month high of $4.91. The firm’s 50-day moving average is $3.42 and its 200 day moving average is $3.26. The company has a market capitalization of $375.15 million, a PE ratio of -5.30 and a beta of 2.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.21 and a quick ratio of 3.15.

Codexis (NASDAQ:CDXS) last issued its earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The company had revenue of $12.83 million during the quarter, compared to the consensus estimate of $11.64 million. During the same quarter in the prior year, the company earned ($0.26) earnings per share. On average, research analysts anticipate that Codexis will post -0.76 EPS for the current year.

Insider Transactions at Codexis

In other Codexis news, major shareholder Opaleye Management Inc. acquired 1,055,000 shares of Codexis stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average price of $3.01 per share, with a total value of $3,175,550.00. Following the completion of the purchase, the insider now directly owns 8,390,000 shares of the company’s stock, valued at approximately $25,253,900. This represents a 14.38 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders acquired 1,166,000 shares of company stock valued at $3,514,910. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Codexis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its position in Codexis by 23.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock valued at $3,399,000 after purchasing an additional 209,207 shares in the last quarter. abrdn plc lifted its position in shares of Codexis by 62.5% during the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock valued at $2,465,000 after buying an additional 307,762 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Codexis by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 284,166 shares of the biotechnology company’s stock valued at $881,000 after buying an additional 32,138 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Codexis by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock worth $14,861,000 after buying an additional 129,773 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Codexis by 18.9% during the 2nd quarter. American Century Companies Inc. now owns 100,734 shares of the biotechnology company’s stock worth $312,000 after acquiring an additional 16,019 shares in the last quarter. Institutional investors 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.