Codexis (CDXS) Receives a Buy from Cowen & Co.

In a report released today, Doug Schenkel from Cowen & Co. maintained a Buy rating on Codexis (CDXS), with a price target of $20. The company’s shares opened today at $17.

According to, Schenkel is a top 100 analyst with an average return of 26.6% and a 70.6% success rate. Schenkel covers the Healthcare sector, focusing on stocks such as Pacific Biosciences, Guardant Health Inc, and Exact Sciences.

Currently, the analyst consensus on Codexis is a Moderate Buy with an average price target of $18.

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Based on Codexis’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.74 million. In comparison, last year the company had a GAAP net loss of $10.23 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2018, Bernard Kelley, a Director at CDXS sold 16,666 shares for a total of $285,655.

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Codexis, Inc. engages in the discovery, development, and sale of proteins. It offers enzyme optimization services and developing biocatalyst products. Its technologies accelerate the development of manufacturing processes for active pharmaceutical ingredients fine chemicals, agrochemicals, food ingredients, detergents and biofuels.