Fintel reports that on July 21, 2023, Stephens & Co. reiterated coverage of Codexis (NASDAQ:CDXS) with a Overweight recommendation.
Analyst Price Forecast Suggests 203.09% Upside
As of July 5, 2023, the average one-year price target for Codexis is 11.37. The forecasts range from a low of 6.06 to a high of $22.05. The average price target represents an increase of 203.09% from its latest reported closing price of 3.75.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Codexis is 94MM, a decrease of 19.29%. The projected annual non-GAAP EPS is -1.07.
What is the Fund Sentiment?
There are 330 funds or institutions reporting positions in Codexis. This is a decrease of 24 owner(s) or 6.78% in the last quarter. Average portfolio weight of all funds dedicated to CDXS is 0.06%, a decrease of 27.00%. Total shares owned by institutions decreased in the last three months by 6.83% to 69,721K shares. 
The put/call ratio of CDXS is 0.05, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 6,107K shares representing 9.15% ownership of the company. In it's prior filing, the firm reported owning 6,211K shares, representing a decrease of 1.69%. The firm decreased its portfolio allocation in CDXS by 24.36% over the last quarter.
Nantahala Capital Management holds 5,152K shares representing 7.72% ownership of the company. In it's prior filing, the firm reported owning 4,488K shares, representing an increase of 12.88%. The firm increased its portfolio allocation in CDXS by 20.57% over the last quarter.
ARKG - ARK Genomic Revolution ETF holds 4,168K shares representing 6.24% ownership of the company. In it's prior filing, the firm reported owning 4,317K shares, representing a decrease of 3.57%. The firm decreased its portfolio allocation in CDXS by 25.86% over the last quarter.
ARK Investment Management holds 4,124K shares representing 6.18% ownership of the company. In it's prior filing, the firm reported owning 4,296K shares, representing a decrease of 4.15%. The firm decreased its portfolio allocation in CDXS by 37.45% over the last quarter.
Telemark Asset Management holds 2,564K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 2,604K shares, representing a decrease of 1.56%. The firm decreased its portfolio allocation in CDXS by 16.76% over the last quarter.
Codexis Background Information
(This description is provided by the company.)
Codexis is a leading enzyme engineering company that applies its proprietary CodeEvolver® technology to develop proteins for a variety of applications, including as biocatalysts for the commercial manufacture of pharmaceuticals, fine chemicals and industrial enzymes, and enzymes as biotherapeutics and for use in molecular diagnostics. Codexis' proven technology enables improvements in protein performance, meeting customer needs for rapid, cost-effective and sustainable manufacturing in multiple commercial-scale implementations of biocatalytic processes.
Additional reading:
- Codexis Announces Enhanced Strategic Focus and Extends Projected Cash Runway to Mid-2026 Organization Streamlined to Focus on Continued Advancement and Commercialization of ECO Synthesis™ Platform for RNAi Therapeutics Production Codexis Expects its
- CODEXIS, INC. 2023 EMPLOYEE STOCK PURCHASE PLAN ARTICLE 1
- AMENDMENT TO THE CODEXIS, INC. 2019 INCENTIVE AWARD PLAN
- CERTIFICATE OF AMENDMENT NINTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF CODEXIS, INC.
- Codexis Reports First Quarter 2023 Financial Results CDX-7108 Clinical Development Program Remains on Track Estimated Cash Runway Through End of 2024 Funds Important Upcoming Milestones Company Reiterates 2023 Total Revenue Guidance with Adjustments
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
