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

Cantor Fitzgerald reiterated their overweight rating on shares of Codexis (NASDAQ:CDXS) in a research note released on Friday,Benzinga reports. They currently have a $11.00 target price on the biotechnology company’s stock.

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

Codexis Trading Down 1.3 %

Shares of Codexis stock opened at $4.55 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. Codexis has a twelve month low of $1.85 and a twelve month high of $4.91. The firm has a market capitalization of $370.28 million, a PE ratio of -5.23 and a beta of 2.07. The firm’s 50-day moving average price is $3.45 and its 200 day moving average price is $3.26.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. The business had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. During the same period in the prior year, the company posted ($0.26) EPS. On average, sell-side analysts predict that Codexis will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling at Codexis

In related news, major shareholder Opaleye Management Inc. acquired 61,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average cost of $3.16 per share, for a total transaction of $192,760.00. Following the acquisition, the insider now directly owns 7,380,000 shares in the company, valued at approximately $23,320,800. The trade was a 0.83 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders acquired 1,166,000 shares of company stock worth $3,514,910. Insiders own 2.10% of the company’s stock.

Institutional Trading of Codexis

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Codexis by 51.1% during the 3rd quarter. Barclays PLC now owns 207,628 shares of the biotechnology company’s stock valued at $640,000 after acquiring an additional 70,255 shares in the last quarter. Empire Financial Management Company LLC lifted its position in shares of Codexis by 4.7% during the third quarter. Empire Financial Management Company LLC now owns 222,952 shares of the biotechnology company’s stock worth $687,000 after purchasing an additional 10,000 shares in the last quarter. Geode Capital Management LLC increased its stake in Codexis by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,644,039 shares of the biotechnology company’s stock worth $5,065,000 after buying an additional 11,082 shares during the period. State Street Corp increased its position in shares of Codexis by 2.7% during the third quarter. State Street Corp now owns 1,551,411 shares of the biotechnology company’s stock worth $4,778,000 after acquiring an additional 41,480 shares during the last quarter. Finally, FMR LLC raised its position in shares of Codexis by 1.2% in the 3rd quarter. FMR LLC now owns 4,497,090 shares of the biotechnology company’s stock valued at $13,851,000 after purchasing an additional 51,822 shares in the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.

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.