Codexis, Inc.
$2.72
+1.1%Codexis, Inc. discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver protein engineering technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes. The company's platform is also used to discover novel biotherapeutic drug candidates for targeted human diseases, as well as for molecular biology and in vitro diagnostic enzymes. It sells its products to pharmaceutical manufacturers through its direct sales and business development force in the United States and Europe. The company was incorporated in 2002 and is headquartered in Redwood City, California.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -5.4).
Valuation inputs: P/E -5.4, earnings yield N/A, momentum +1.1%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE -87.0%, ROIC -30.6%).
Profitability stack: net margin -62.5%, ROE -87.0%, ROIC -30.6%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +65.8%, momentum +1.1%, net margin -62.5%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Codexis, Inc. Market vs Earnings Trajectory
Performance Analysis
EPS Growth
Strong earnings growth indicates robust business expansion and improving profitability.
Price-EPS Relationship
Stock price is moving in line with earnings growth—a healthy sign of fundamental-driven valuation.
Stock Price Change
Over the 1Y period, stock price has increased by 16.7%.
P/E Ratio (TTM)
Relatively low P/E may indicate undervaluation or lower growth expectations.
Key Insight
Strong earnings growth (+55.4%) is outpacing price appreciation (+16.7%), potentially indicating an attractive entry point as the market may not have fully recognized the improving fundamentals.
Codexis, Inc. Fair Value Envelope
Codexis, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
Codexis, Inc. Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Codexis, Inc. Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.
Codexis, Inc. Street Expectations Map
Wall Street analysts project that CDXS stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 5.00, with estimates ranging from a low of 5.00 to a high of 5.00.
The consensus 1-year price target stands at 5.00, with estimates ranging from a low of 5.00 to a high of 5.00.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.
Analyst Conviction
Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.
Market Sentiment Insight
Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.
Codexis, Inc. Insider Positioning
During the last 12 months, insiders have purchased $3.82M and sold $2.75M worth of CDXS shares, resulting in $1.08M of net buying activity.
3 Months
0
0.00
0
0.00
+0
+$0
3-6 Months
0
0.00
20.7K
27.85K
-28K
-$28K
6-9 Months
1.3M
2.49M
1.6M
2.72M
-232K
-$232K
9-12 Months
545.0K
1.34M
0
0.00
+1.3M
+$1.34M
Top Buyers
Opaleye Management Inc.
10 Percent Owner
$3.82M
Top Sellers
Opaleye Management Inc.
10 Percent Owner
$2.67M
Moore Alison
Director, Officer: President And Ceo
$21K
Erbez Georgia
Officer: See Remarks
$21K
Lutz Stefan
Officer: Chief Scientific Officer
$18K
Wolf Dennis P
Director
$14K
Insider Activity Analysis
Net Insider Sentiment
Moderately bullish with $1.08M net buying. Insiders show cautious optimism through measured share purchases.
Buy/Sell Ratio
Positive buy/sell ratio. Buying exceeds or matches selling, indicating net positive insider sentiment.
Insider Participation
5 insider sellers vs. 1 buyers. Widespread selling across multiple insiders may signal concerns.
No Dividend Yield Data
CDXS has not reported any dividend yield values in the available annual periods.
cdxs Dividend History
Learning Layer
Related Guides
Build conviction on CDXS by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.