Codexis, Inc. (CDXS) Price Target Increased to $11.00 by Analysts at Jefferies Group LLC
Codexis, Inc. (NASDAQ:CDXS) had its price objective increased by Jefferies Group LLC from $9.00 to $11.00 in a report published on Friday. They currently have a buy rating on the biotechnology company’s stock. Jefferies Group also issued estimates for Codexis’ Q4 2017 earnings at $0.04 EPS.
CDXS has been the topic of several other research reports. BidaskClub lowered Codexis from a buy rating to a hold rating in a research note on Friday, July 28th. ValuEngine upgraded Codexis from a sell rating to a hold rating in a research note on Wednesday, June 21st. Zacks Investment Research lowered Codexis from a buy rating to a hold rating in a research note on Monday, August 14th. Finally, HC Wainwright set a $8.00 price target on Codexis and gave the company a buy rating in a research note on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $7.50.
Shares of Codexis (CDXS) traded down 4.46% during mid-day trading on Friday, reaching $7.50. The company had a trading volume of 394,529 shares. Codexis has a 12-month low of $3.60 and a 12-month high of $7.95. The stock’s market capitalization is $362.43 million. The firm’s 50 day moving average is $6.14 and its 200-day moving average is $5.20.
Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). Codexis had a negative return on equity of 83.39% and a negative net margin of 40.70%. The company had revenue of $10.30 million for the quarter, compared to analyst estimates of $9.61 million. During the same quarter last year, the company posted $0.12 EPS. The company’s revenue for the quarter was down 35.6% compared to the same quarter last year. On average, analysts expect that Codexis will post ($0.42) earnings per share for the current fiscal year.
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In other news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of Codexis stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $5.78, for a total value of $6,126,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Teachers Advisors LLC boosted its holdings in shares of Codexis by 10.0% during the 4th quarter. Teachers Advisors LLC now owns 58,017 shares of the biotechnology company’s stock valued at $267,000 after acquiring an additional 5,264 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Codexis by 24.4% during the 1st quarter. Wells Fargo & Company MN now owns 58,694 shares of the biotechnology company’s stock valued at $282,000 after acquiring an additional 11,500 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Codexis by 10.4% during the 1st quarter. Bank of New York Mellon Corp now owns 136,053 shares of the biotechnology company’s stock valued at $653,000 after acquiring an additional 12,841 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Codexis by 1.1% during the 1st quarter. TIAA CREF Investment Management LLC now owns 102,294 shares of the biotechnology company’s stock valued at $491,000 after acquiring an additional 1,099 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Codexis by 4.2% during the 1st quarter. Geode Capital Management LLC now owns 226,644 shares of the biotechnology company’s stock valued at $1,087,000 after acquiring an additional 9,191 shares in the last quarter. Institutional investors own 63.62% of the company’s stock.
Codexis Company Profile
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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