Codexis

CDXS · NASDAQ

$1.23−$0.09 (−6.82%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $1.32

CDXS analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.

Strong buy0
Buy1
Hold0
Underperform0
Sell0

12-month price target · 9 analysts

Average $6.27 (+409.4% upside)

Low: $2.02
Now: $1.23
High: $11.55

Upgrades and downgrades

The latest rating actions, newest first

CDXS analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Aug 17, 2026	Maintains	Overweight	$9.00 → $8.00	52%

The case for and against

Updated May 8, 2025

Bull case

Codexis Inc. demonstrates a strong positive outlook due to its innovative ECO Synthesis manufacturing platform, which enhances the production of RNAi therapeutics through an enzymatic route, potentially lowering production costs for drug developers. The company's proven track record of producing inclisiran using multiple methods indicates flexibility and reliability, essential for attracting potential customers and fostering strategic partnerships. Additionally, the heightened enthusiasm and discussions surrounding the platform at recent industry events suggest a strong market interest, positioning Codexis to capitalize on the growing demand for siRNA therapies.

Bear case

Codexis Inc faces significant challenges regarding its production capacity for RNAi therapeutics, which raises concerns about the company's ability to meet increasing market demand. The ongoing development of the ECO Synthesis platform introduces further investment risks due to the potential for production delays or program failures. Additionally, existing cumbersome and environmentally detrimental manufacturing methods hinder scalability and efficiency, while intensified competition from both established and new players could impact Codexis's market position if it successfully develops its RNA manufacturing capabilities.

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