Codexis’ (CDXS) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Codexis (NASDAQ:CDXS) in a research report released on Friday morning,Benzinga reports. The firm currently has a $11.00 price objective on the biotechnology company’s stock.

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

Codexis Price Performance

Shares of Codexis stock opened at $4.61 on Friday. The firm has a market cap of $375.16 million, a PE ratio of -5.30 and a beta of 2.07. The business has a 50-day moving average price of $3.42 and a 200 day moving average price of $3.26. The company has a quick ratio of 3.15, a current ratio of 3.21 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.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results 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 in the previous year, the firm posted ($0.26) EPS. Sell-side analysts predict that Codexis will post -0.76 earnings per share for the current fiscal year.

Insider Activity at Codexis

In other news, major shareholder Opaleye Management Inc. bought 1,055,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $3.01 per share, for a total transaction of $3,175,550.00. Following the acquisition, the insider now directly owns 8,390,000 shares of the company’s stock, valued at $25,253,900. This trade represents a 14.38 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders purchased 1,166,000 shares of company stock valued at $3,514,910. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Codexis

Several institutional investors have recently made changes to their positions in CDXS. Barclays PLC lifted its stake in shares of Codexis by 51.1% in the 3rd quarter. Barclays PLC now owns 207,628 shares of the biotechnology company’s stock valued at $640,000 after purchasing an additional 70,255 shares during the last quarter. Empire Financial Management Company LLC grew its holdings in 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 acquiring an additional 10,000 shares during the period. Geode Capital Management LLC raised 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 worth $5,065,000 after acquiring an additional 11,082 shares during the last quarter. 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 worth $4,778,000 after buying an additional 41,480 shares during the period. Finally, FMR LLC lifted its holdings in shares of Codexis by 1.2% during the 3rd quarter. FMR LLC now owns 4,497,090 shares of the biotechnology company’s stock valued at $13,851,000 after acquiring an additional 51,822 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

About Codexis

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.