H.C. Wainwright Believes Codexis (CDXS) Won’t Stop Here


H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Codexis (CDXS) today and set a price target of $22.50. The company’s shares closed on Friday at $20.91, close to its 52-week high of $23.05.

Ramakanth said:

“We maintain our Buy rating of CDXS and increase our 12-month price target to $22.50 per share, up from $16.50. We derive our price target based on the average of three valuation methods: 1) price-sales multiple analysis applying a 7x multiple to our 2027 risk-adjusted revenue estimate discounted at 12%; 2) price-earnings multiple analysis applying a 17x multiple to our 2027 estimated earnings discounted at 12%; and 3) discounted free cash flow analysis assuming a 12% discount rate and a 3% terminal growth rate.”

According to TipRanks.com, Ramakanth has currently no stars on a ranking scale of 0-5 stars, with an average return of -3.7% and a 35.0% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Collplant Holdings Ltd, Leap Therapeutics Inc, and Tyme Technologies Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Codexis with a $23.13 average price target, which is a 10.6% upside from current levels. In a report issued on February 27, Craig-Hallum also reiterated a Buy rating on the stock with a $25 price target.

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The company has a one-year high of $23.05 and a one-year low of $9.10. Currently, Codexis has an average volume of 489.9K.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is neutral on the stock.

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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.

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