Benchmark Co. analyst Robert Wasserman maintained a Hold rating on Codexis (CDXS – Research Report) today. The company’s shares closed last Friday at $3.50.
Wasserman covers the Healthcare sector, focusing on stocks such as Integer Holdings, Codexis, and Emergent Biosolutions. According to TipRanks, Wasserman has an average return of 4.3% and a 41.73% success rate on recommended stocks.
Currently, the analyst consensus on Codexis is a Moderate Buy with an average price target of $7.60, an 117.14% upside from current levels. In a report released on November 1, TD Cowen also assigned a Hold rating to the stock with a $3.00 price target.
Based on Codexis’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $12.83 million and a GAAP net loss of $20.64 million. In comparison, last year the company earned a revenue of $9.28 million and had a GAAP net loss of $34.91 million
Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CDXS in relation to earlier this year. Last month, Opaleye Management Inc., a Major Shareholder at CDXS bought 25,000.00 shares for a total of $72,500.00.
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Codexis (CDXS) Company Description:
Codexis, Inc. engages in the discovery, development, and sale of proteins. The company offers enzyme optimization services and developing biocatalyst products. The firm operates through the following segments: Performance Enzymes and Novel Biotherapeutics. Its technologies accelerate the development of manufacturing processes for active pharmaceutical ingredients fine chemicals, agrochemicals, food ingredients, detergents and biofuels. The company was founded in January 2002 and is headquartered in Redwood City, CA.
