Jefferies Financial Group Begins Coverage on Codexis (NASDAQ:CDXS)

Jefferies Financial Group began coverage on shares of Codexis (NASDAQ:CDXSFree Report) in a research report released on Monday morning, StockNewsAPI reports. The brokerage issued a buy rating and a $5.00 price objective on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on CDXS. Benchmark reiterated a buy rating and set a $9.00 price target on shares of Codexis in a report on Friday, May 3rd. StockNews.com raised Codexis to a sell rating in a research report on Tuesday, March 5th. Finally, Cantor Fitzgerald initiated coverage on Codexis in a research report on Thursday, May 30th. They set an overweight rating and a $11.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $7.14.

Read Our Latest Report on CDXS

Codexis Stock Performance

CDXS opened at $3.52 on Monday. The firm has a market cap of $248.37 million, a PE ratio of -3.78 and a beta of 2.10. The company has a quick ratio of 3.63, a current ratio of 3.71 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $3.26 and a 200-day simple moving average of $3.06. Codexis has a fifty-two week low of $1.45 and a fifty-two week high of $4.91.

Codexis (NASDAQ:CDXSGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Codexis had a negative return on equity of 41.76% and a negative net margin of 87.73%. The business had revenue of $17.07 million for the quarter, compared to the consensus estimate of $14.06 million. As a group, equities analysts predict that Codexis will post -0.56 EPS for the current fiscal year.

Institutional Trading of Codexis

A number of institutional investors and hedge funds have recently made changes to their positions in CDXS. Tower Research Capital LLC TRC increased its stake in shares of Codexis by 674.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 13,203 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Codexis in the third quarter worth about $70,000. SG Americas Securities LLC increased its stake in shares of Codexis by 19.1% in the fourth quarter. SG Americas Securities LLC now owns 31,442 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 5,050 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Codexis in the first quarter worth about $97,000. Finally, State Board of Administration of Florida Retirement System increased its stake 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 worth $99,000 after purchasing an additional 10,395 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.

About Codexis

(Get Free Report)

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.

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Analyst Recommendations for Codexis (NASDAQ:CDXS)

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