Codexis (CDXS) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Codexis (NASDAQ:CDXS) from a hold rating to a buy rating in a research report report published on Thursday.

CDXS has been the subject of several other research reports. Zacks Investment Research upgraded Codexis from a sell rating to a hold rating in a research note on Wednesday, October 11th. HC Wainwright restated a buy rating and set a $8.50 target price on shares of Codexis in a research note on Tuesday, November 21st. Finally, Jefferies Group increased their target price on Codexis from $9.00 to $11.00 and gave the company a buy rating in a research note on Friday, October 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $7.81.

Shares of Codexis (CDXS) traded down $0.05 during trading hours on Thursday, reaching $9.00. The company had a trading volume of 256,784 shares, compared to its average volume of 290,989. Codexis has a 1 year low of $3.60 and a 1 year high of $9.45. The company has a market cap of $435.12, a P/E ratio of -13.85 and a beta of -1.59.

Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, November 9th. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.05). Codexis had a negative net margin of 76.37% and a negative return on equity of 140.02%. sell-side analysts anticipate that Codexis will post -0.46 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the business. Royce & Associates LP bought a new stake in shares of Codexis in the 3rd quarter worth approximately $1,089,000. Telemark Asset Management LLC bought a new stake in shares of Codexis in the 3rd quarter worth approximately $13,633,000. Wells Fargo & Company MN lifted its position in shares of Codexis by 227.6% in the 3rd quarter. Wells Fargo & Company MN now owns 390,797 shares of the biotechnology company’s stock worth $2,599,000 after acquiring an additional 271,503 shares during the period. Baillie Gifford & Co. lifted its position in shares of Codexis by 1.1% in the 3rd quarter. Baillie Gifford & Co. now owns 1,478,097 shares of the biotechnology company’s stock worth $9,830,000 after acquiring an additional 16,684 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of Codexis by 7.4% in the 2nd quarter. California State Teachers Retirement System now owns 72,298 shares of the biotechnology company’s stock worth $394,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 65.71% of the company’s stock.

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About Codexis

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.

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