Cantor Fitzgerald Reaffirms “Overweight” Rating for Codexis (NASDAQ:CDXS)

Codexis (NASDAQ:CDXS)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They presently have a $11.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 183.51% from the company’s previous close.

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

Codexis Stock Performance

Shares of CDXS opened at $3.88 on Friday. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. The stock has a market cap of $315.75 million, a P/E ratio of -4.46 and a beta of 2.07. The company has a 50-day moving average of $3.26 and a two-hundred day moving average of $3.23. Codexis has a 12-month low of $1.85 and a 12-month high of $4.91.

Codexis (NASDAQ:CDXS) last issued its quarterly 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). The firm had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. During the same quarter last year, the firm earned ($0.26) earnings per share. As a group, research analysts predict that Codexis will post -0.76 EPS for the current fiscal year.

Insider Activity at Codexis

In related news, major shareholder Opaleye Management Inc. bought 45,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of $2.94 per share, for a total transaction of $132,300.00. Following the completion of the acquisition, the insider now owns 8,435,000 shares in the company, valued at $24,798,900. This trade represents a 0.54 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders purchased 1,166,000 shares of company stock worth $3,514,910. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Codexis

A number of institutional investors have recently bought and sold shares of CDXS. FMR LLC lifted its position in Codexis by 1.2% during the third quarter. FMR LLC now owns 4,497,090 shares of the biotechnology company’s stock valued at $13,851,000 after buying an additional 51,822 shares in the last quarter. Vanguard Group Inc. lifted its position in Codexis by 3.1% during the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock valued at $14,861,000 after buying an additional 129,773 shares in the last quarter. Opaleye Management Inc. lifted its position in Codexis by 2.4% during the first quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock valued at $10,889,000 after buying an additional 74,475 shares in the last quarter. Geode Capital Management LLC lifted its position in Codexis by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,644,039 shares of the biotechnology company’s stock valued at $5,065,000 after buying an additional 11,082 shares in the last quarter. Finally, State Street Corp lifted its position in Codexis by 2.7% during the third quarter. State Street Corp now owns 1,551,411 shares of the biotechnology company’s stock valued at $4,778,000 after buying an additional 41,480 shares in the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

Codexis Company Profile

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.