Brendan Smith, an analyst from TD Cowen, maintained the Hold rating on Codexis. The associated price target remains the same with $3.00.
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Brendan Smith has given his Hold rating due to a combination of factors influencing Codexis’s current and future performance. The company has shown positive momentum with its ECO synthesis platform, as evidenced by its recent revenue beat and ongoing customer engagements. However, the urgency surrounding the development of a GMP facility suggests that while current production capacity meets today’s demand, future demand could necessitate significant expansion.
Codexis’s focus on the ligase business and the potential for larger scale siRNA production are promising, but the realization of these opportunities depends on key developments expected by the end of 2025. These include achieving pilot scale production and signing a GMP scale-up partner. While the company is making steady progress, the Hold rating reflects the need for further clarity on the timing and scale of future manufacturing needs and the execution of management’s current plans.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $3.00 price target.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CDXS in relation to earlier this year.