According to Zacks, “Codexis is a leading protein engineering company that applies its proprietary CodeEvolver technology to develop proteins for a variety of applications, including as biocatalysts for the commercial manufacture of pharmaceuticals, fine chemicals and industrial enzymes, and enzymes as biotherapeutics and for use in molecular diagnostics. Codexis proven technology enables improvements in protein performance, meeting customer needs for rapid, cost-effective and sustainable manufacturing in multiple commercial-scale implementations of biocatalytic processes. “
Other analysts have also issued research reports about the company. HC Wainwright reissued a buy rating and issued a $22.50 target price on shares of Codexis in a report on Thursday, August 8th. BidaskClub lowered Codexis from a hold rating to a sell rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. Codexis currently has a consensus rating of Buy and a consensus target price of $21.58.
CDXS opened at $13.31 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 6.26 and a current ratio of 6.30. The business has a 50 day moving average of $17.66 and a 200-day moving average of $19.34. Codexis has a 52 week low of $12.80 and a 52 week high of $23.05.
Codexis (NASDAQ:CDXS) last released its earnings results on Tuesday, August 6th. The biotechnology company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.04). The firm had revenue of $12.32 million during the quarter, compared to analysts’ expectations of $14.90 million. Codexis had a negative net margin of 23.13% and a negative return on equity of 21.60%. As a group, analysts expect that Codexis will post -0.21 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of CDXS. Capital Investment Advisory Services LLC acquired a new stake in shares of Codexis during the 2nd quarter valued at about $37,000. Tower Research Capital LLC TRC purchased a new position in Codexis in the 2nd quarter valued at about $41,000. Quantamental Technologies LLC purchased a new position in Codexis in the 2nd quarter valued at about $44,000. Aperio Group LLC purchased a new position in Codexis in the 2nd quarter valued at about $98,000. Finally, Legal & General Group Plc lifted its stake in Codexis by 12.1% in the 4th quarter. Legal & General Group Plc now owns 9,379 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 1,010 shares in the last quarter. 87.27% of the stock is owned by institutional investors.
Codexis Company Profile
Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.
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