H.C. Wainwright Sticks to Their Buy Rating for Codexis (CDXS)

By Carrie Williams

H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Codexis (CDXSResearch Report) today and set a price target of $16.50. The company’s shares closed on Friday at $16.12.

Ramakanth observed:

“We maintain our Buy rating of CDXS and our 12-month price target of $16.50 per share. We derive our price target based on the average of three valuation methods: 1) price-sales multiple analysis applying a 3x multiple to our 2025 risk-adjusted revenue estimate discounted at 12%; 2) price-earnings multiple analysis applying a 23x multiple to our 2025 estimated earnings discounted at 12%; and 3) discounted free cash flow analysis assuming a 12% discount rate and a 2% terminal growth rate.”

According to TipRanks.com, Ramakanth has 0 stars on 0-5 star ranking scale with an average return of -5.8% and a 30.2% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Collplant Holdings Ltd.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Codexis with a $20.50 average price target.

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Based on Codexis’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $1.99 million. In comparison, last year the company had a net profit of $970K.

Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative 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.