Codexis (NASDAQ:CDXS) Given Overweight Rating at Cantor Fitzgerald

Codexis (NASDAQ:CDXS - Get Free Report)'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 price target on the biotechnology company's stock. Cantor Fitzgerald's price objective would indicate a potential upside of 183.51% from the company's current price.

Separately, Benchmark reaffirmed a "hold" rating on shares of Codexis in a report on Monday, November 4th.

Codexis Trading Up 3.7 %

Shares of NASDAQ CDXS traded up $0.14 during midday trading on Friday, reaching $3.88. The stock had a trading volume of 1,097,182 shares, compared to its average volume of 539,228. Codexis has a twelve month low of $1.85 and a twelve month high of $4.91. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21. The company's 50 day moving average price is $3.24 and its 200 day moving average price is $3.22. The firm has a market cap of $315.75 million, a price-to-earnings ratio of -4.38 and a beta of 2.07.

Codexis (NASDAQ:CDXS - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The company had revenue of $12.83 million during the quarter, compared to analysts' expectations of $11.64 million. During the same period last year, the company earned ($0.26) earnings per share. As a group, sell-side analysts expect that Codexis will post -0.76 EPS for the current year.

Insider Activity at Codexis

In other Codexis news, major shareholder Opaleye Management Inc. purchased 1,055,000 shares of the firm's stock in a transaction on Friday, September 20th. The shares were acquired at an average cost of $3.01 per share, for a total transaction of $3,175,550.00. Following the completion of the transaction, the insider now owns 8,390,000 shares of the company's stock, valued at approximately $25,253,900. The trade was a 14.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 1,166,000 shares of company stock valued at $3,514,910 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Codexis

A number of institutional investors and hedge funds have recently bought and sold shares of CDXS. Kent Lake Capital LLC bought a new position in shares of Codexis during the first quarter worth $2,197,000. abrdn plc increased its holdings in shares of Codexis by 62.5% in the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company's stock worth $2,465,000 after purchasing an additional 307,762 shares during the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Codexis in the first quarter worth about $802,000. Assenagon Asset Management S.A. boosted its stake in Codexis by 23.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company's stock valued at $3,399,000 after buying an additional 209,207 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Codexis by 3.1% during the 1st 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. 78.54% of the stock is owned by 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.