Codexis (NASDAQ:CDXS) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of Codexis (NASDAQ:CDXS) from a hold rating to a buy rating in a report published on Wednesday morning, BidAskClub reports.

A number of other equities analysts have also commented on CDXS. ValuEngine lowered Codexis from a strong-buy rating to a buy rating in a research note on Saturday, January 4th. Zacks Investment Research lowered Codexis from a strong-buy rating to a hold rating in a research note on Thursday, November 14th. Finally, HC Wainwright reaffirmed a buy rating and issued a $22.50 price objective on shares of Codexis in a research note on Tuesday, December 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Codexis has a consensus rating of Buy and an average target price of $20.63.

Shares of CDXS stock traded up $0.05 during mid-day trading on Wednesday, reaching $18.63. 5,664 shares of the stock traded hands, compared to its average volume of 334,320. The stock’s fifty day simple moving average is $16.43 and its two-hundred day simple moving average is $15.50. Codexis has a 1-year low of $12.68 and a 1-year high of $22.49. The company has a market cap of $1.09 billion and a price-to-earnings ratio of -88.71. The company has a quick ratio of 7.34, a current ratio of 7.37 and a debt-to-equity ratio of 0.25.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Tuesday, November 5th. The biotechnology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.10. Codexis had a negative return on equity of 15.24% and a negative net margin of 17.85%. The firm had revenue of $21.91 million for the quarter, compared to analyst estimates of $16.56 million. On average, equities research analysts anticipate that Codexis will post -0.2 EPS for the current fiscal year.

In other Codexis news, Director Dennis P. Wolf sold 20,000 shares of Codexis stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $16.22, for a total value of $324,400.00. Following the completion of the sale, the director now directly owns 102,177 shares in the company, valued at $1,657,310.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas R. Baruch sold 17,500 shares of Codexis stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $15.61, for a total value of $273,175.00. Following the completion of the sale, the director now owns 90,540 shares of the company’s stock, valued at $1,413,329.40. The disclosure for this sale can be found here. Insiders own 10.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of CDXS. Russell Investments Group Ltd. bought a new stake in shares of Codexis during the third quarter valued at approximately $421,000. Bank of America Corp DE increased its holdings in shares of Codexis by 36.6% during the second quarter. Bank of America Corp DE now owns 57,668 shares of the biotechnology company’s stock valued at $1,063,000 after acquiring an additional 15,450 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Codexis by 192.3% during the third quarter. Millennium Management LLC now owns 283,898 shares of the biotechnology company’s stock valued at $3,893,000 after acquiring an additional 186,763 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Codexis during the second quarter valued at approximately $41,000. Finally, SG Americas Securities LLC increased its holdings in shares of Codexis by 1,563.8% during the third quarter. SG Americas Securities LLC now owns 171,918 shares of the biotechnology company’s stock valued at $2,358,000 after acquiring an additional 161,585 shares in the last quarter. Institutional investors and hedge funds own 89.40% of the company’s stock.

About Codexis

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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