Market Analysts see Codexis Inc. [CDXS] gaining to $32. Time to buy?

Codexis Inc. [NASDAQ: CDXS] gained 12.63% on the last trading session, reaching $22.12 price per share at the time. The company report on June 18, 2021 that Codexis Raises 2021 Guidance Following Receipt of Significant New Order for a Proprietary Enzyme Product.

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Codexis, Inc. (Nasdaq: CDXS), a leading enzyme engineering company enabling the promise of synthetic biology, is raising its guidance for 2021, following the receipt of a binding purchase order for up to $13.9 million of a proprietary high performance enzyme product from an undisclosed global pharmaceutical company. The majority of this order was not included in Codexis’ prior guidance for 2021; accordingly, the Company is raising its 2021 guidance for total revenues to a range of $89 million to $93 million, up from previous guidance of $82 million to $85 million. Codexis is also increasing its 2021 guidance for product revenue to a range of $45 million to $48 million, up from previous guidance of $36 million to $39 million. In addition, the Company is raising 2021 guidance for product gross margin to a range of 60% to 64%, up from previous guidance of 54% to 58%.

“We are delighted to be able to supply one of our proprietary, high performance enzyme products to assist a key partner in the manufacture of commercial quantities of a critical intermediate for one of their Active Pharmaceutical Ingredients (APIs),” said John Nicols, President and CEO of Codexis. “Leveraging our CodeEvolver® enzyme engineering platform, Codexis is able to design enzymes with remarkable performance improvements for our customers, dramatically reducing the cost and improving the efficiency and sustainability of their API production. This increase in guidance showcases the capacity of our business model to continue accelerating revenue growth, projecting product sales 50% higher year over year, at significantly higher gross margins.”.

Codexis Inc. represents 64.29 million in outstanding shares, while the company has a total market value of $1.27 billion with the latest information. CDXS stock price has been found in the range of $19.75 to $22.18.

If compared to the average trading volume of 519.32K shares, CDXS reached a trading volume of 1086684 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Codexis Inc. [CDXS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDXS shares is $27.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDXS stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Codexis Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 12, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on March 01, 2021, representing the official price target for Codexis Inc. stock. Previously, the target price had yet another raise from $21 to $26, while H.C. Wainwright kept a Buy rating on CDXS stock.

The Average True Range (ATR) for Codexis Inc. is set at 1.01, with the Price to Sales ratio for CDXS stock in the period of the last 12 months amounting to 17.49. The Price to Book ratio for the last quarter was 8.67, with the Price to Cash per share for the same quarter was set at 2.46.

Trading performance analysis for CDXS stock

Codexis Inc. [CDXS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.82. With this latest performance, CDXS shares gained by 16.73% in over the last four-week period, additionally plugging by 14.91% over the last 6 months – not to mention a rise of 112.90% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDXS stock in for the last two-week period is set at 58.59, with the RSI for the last a single of trading hit 62.42, and the three-weeks RSI is set at 55.37 for Codexis Inc. [CDXS]. The present Moving Average for the last 50 days of trading for this stock 21.27, while it was recorded at 20.81 for the last single week of trading, and 19.54 for the last 200 days.

Codexis Inc. [CDXS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Codexis Inc. [CDXS] shares currently have an operating margin of -34.64 and a Gross Margin at +77.28. Codexis Inc.’s Net Margin is presently recorded at -34.77.

Return on Total Capital for CDXS is now -14.64, given the latest momentum, and Return on Invested Capital for the company is -14.87. Return on Equity for this stock declined to -17.42, with Return on Assets sitting at -12.95. When it comes to the capital structure of this company, Codexis Inc. [CDXS] has a Total Debt to Total Equity ratio set at 14.67. Additionally, CDXS Total Debt to Total Capital is recorded at 12.79, with Total Debt to Total Assets ending up at 11.26. Long-Term Debt to Equity for the company is recorded at 13.12, with the Long-Term Debt to Total Capital now at 11.45.

Reflecting on the efficiency of the workforce at the company, Codexis Inc. [CDXS] managed to generate an average of -$132,652 per employee. Receivables Turnover for the company is 2.79 with a Total Asset Turnover recorded at a value of 0.37.Codexis Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.70 and a Current Ratio set at 7.70.

Codexis Inc. [CDXS]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Codexis Inc. posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 42.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CDXS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Codexis Inc. go to 15.00%.

An analysis of insider ownership at Codexis Inc. [CDXS]

There are presently around $1,370 million, or 98.50% of CDXS stock, in the hands of institutional investors. The top three institutional holders of CDXS stocks are: ARK INVESTMENT MANAGEMENT LLC with ownership of 6,281,617, which is approximately 58.542% of the company’s market cap and around 2.40% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 5,930,551 shares of the stock with an approximate value of $131.18 million in CDXS stocks shares; and BLACKROCK INC., currently with $113.35 million in CDXS stock with ownership of nearly 9.032% of the company’s market capitalization.

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Positions in Codexis Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 81 institutional holders increased their position in Codexis Inc. [NASDAQ:CDXS] by around 6,849,906 shares. Additionally, 65 investors decreased positions by around 5,837,374 shares, while 25 investors held positions by with 49,228,413 shares. The mentioned changes placed institutional holdings at 61,915,693 shares, according to the latest SEC report filing. CDXS stock had 21 new institutional investments in for a total of 870,295 shares, while 20 institutional investors sold positions of 1,820,442 shares during the same period.

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