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Investing.com - Benchmark has reiterated its Hold rating on Codexis , Inc. (NASDAQ:CDXS), a $271 million market cap biotechnology company, following the company’s second-quarter 2025 financial results. According to InvestingPro analysis, the stock appears slightly undervalued at its current price of $3.00.
Codexis reported revenues of $15.3 million for the second quarter, representing a significant increase from $8.0 million in the same period last year. The company posted a reduced net loss of $13.3 million or ($0.16) per share, compared to a net loss of $22.8 million or ($0.32) per share in the second quarter of 2024. InvestingPro data reveals concerning metrics, including negative gross profit margins of -10.42% and ongoing cash burn, though the company maintains a healthy current ratio of 5.82.
The quarterly performance exceeded Benchmark’s estimates, which had projected revenues of $13.0 million and a net loss of $18.2 million or ($0.22) per share. Revenue growth was primarily driven by $7.9 million in research and development revenues from a licensing agreement executed during the quarter, alongside an 18% increase in product sales.
Codexis management reaffirmed its full-year 2025 revenue guidance of $64-$68 million, maintaining its outlook despite the stronger-than-expected quarterly results.
Benchmark maintained its Hold rating as Codexis continues its transition to new products and services, citing the extended timeframe before the company’s long-range projects mature and begin generating more positive growth metrics.
In other recent news, Codexis Inc. reported its second-quarter 2025 earnings, surpassing expectations with an earnings per share (EPS) of -$0.16, compared to the forecasted -$0.19. The company also reported a significant revenue increase to $15.3 million, up from $8 million in the same quarter last year. Stifel has maintained its Buy rating on Codexis, citing the company’s revenue beat and positive updates on its Pharma Biocatalysis business and ECO Synthesis Platform. The firm set a price target of $5.00. Additionally, Cantor Fitzgerald reiterated its Overweight rating with an $11.00 price target, highlighting Codexis’s strengthened balance sheet in the most recent quarter, which provides funding for building costs. These developments reflect a positive business outlook as Codexis continues to advance its operations.
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