Shares of Codexis, Inc. (NASDAQ:CDXS) have received an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $16.50.
Several equities analysts recently commented on the stock. BidaskClub lowered shares of Codexis from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 28th. Craig Hallum increased their price objective on shares of Codexis from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, September 5th. Finally, Zacks Investment Research raised shares of Codexis from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, August 16th.
In related news, CFO Gordon Sangster sold 18,736 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $15.31, for a total value of $286,848.16. Following the completion of the transaction, the chief financial officer now directly owns 134,453 shares of the company’s stock, valued at approximately $2,058,475.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John J. Nicols sold 14,259 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $15.14, for a total transaction of $215,881.26. Following the completion of the transaction, the insider now owns 1,084,538 shares in the company, valued at approximately $16,419,905.32. The disclosure for this sale can be found here. Insiders sold a total of 508,329 shares of company stock valued at $8,354,797 over the last ninety days. 11.40% of the stock is currently owned by insiders.
Shares of CDXS stock traded down $0.15 during mid-day trading on Friday, hitting $15.84. 16,073 shares of the stock traded hands, compared to its average volume of 378,163. The firm has a market cap of $917.74 million, a price-to-earnings ratio of -32.10 and a beta of -2.07. Codexis has a 52-week low of $5.70 and a 52-week high of $19.60.
Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The business had revenue of $13.54 million during the quarter, compared to analyst estimates of $11.87 million. Codexis had a negative net margin of 29.83% and a negative return on equity of 61.93%. As a group, sell-side analysts expect that Codexis will post -0.2 EPS for the current year.
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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