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Codexis Inc(CDXS)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for CDXS
11/10/2026: CDXS (1-star) is currently NOT-A-BUY. Pass it for now.
Codexis Inc is a specialized biotechnology company known for its proprietary protein engineering platform, CodeEvolver, which it uses to develop high-performance enzymes for pharmaceutical manufacturing and genomic medicine. The company is currently transitioning toward a more sustainable growth model focused on high-margin life science tools, specifically its ECO synthesis platform. While the company holds a unique technological position, it faces substantial risks, including financial inconsistency and intense competition from larger, well-funded bioprocessing rivals. The stock is a higher-risk play suited for growth-oriented investors who believe in the shift toward enzymatic genomic manufacturing. Investors should closely monitor the adoption of the ECO platform and progress toward sustainable profitability.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The company offers exposure to high-growth areas like genomic medicine but carries significant execution and financial risk. |
| Momentum investor | Weak fit | Stock performance is often highly volatile and requires a sustained positive trend in adoption for the ECO synthesis platform. |
| Value investor | Weak fit | The company lacks the earnings stability and history of profitability typically required for value investing. |
| Dividend investor | Weak fit | Codexis is a growth-stage company that does not pay dividends. |
| Low-risk investor | Weak fit | High volatility and sensitivity to pharmaceutical R&D cycles make this unsuitable for low-risk portfolios. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock exhibits significant price swings due to its small-cap nature and reliance on binary partnership outcomes. |
| Valuation risk | Medium / high | Valuation remains sensitive to growth expectations for its relatively new life science tools segment. |
| Competition risk (synthetic biology and bioprocessing) | High | The company faces aggressive competition from better-capitalized firms in the bioprocessing and genomic spaces. |
| Business quality | Medium | While the technology is highly specialized, the business model has struggled to produce consistent profitability. |
| Dividend income | Low / none | No dividend is paid, providing no income for investors. |
| Execution risk | High | The successful commercialization of the ECO synthesis platform is critical to future valuation. |
Price Behavior
Downtrend
The stock has experienced a sustained decline in price over recent periods.
Extreme Price Shocks
The stock has experienced exceptionally large and disruptive price movements during the period.
Analysis of Past Performance
Type Stock | Historic Profit 11.05% | Avg. Invested days 25 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 11/10/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 121.55M USD | Price to earnings Ratio - | 1Y Target Price 6.14 |
Price to earnings Ratio - | 1Y Target Price 6.14 | ||
Volume (30-day avg) 823.4K shares | Beta 2.39 | 52 Weeks Range 0.96 - 2.98 | Updated Date 11/10/2026 |
52 Weeks Range 0.96 - 2.98 | Updated Date 11/10/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.33 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Performance Enzymes | Custom engineered enzymes sold to pharma companies for chemical manufacturing processes. | This is the 'bread and butter' business that generates stable but often lumpy revenue from manufacturing partnerships. |
| Life Science Tools | Kits and reagents for genomic medicine and DNA/RNA synthesis (ECO Platform). | This is the primary growth driver for the company, targeting the high-growth genomic medicine market. |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Valuation
Trailing PE - | Forward PE 149.25 | Enterprise Value 137.58M | Price to Sales(TTM) 1.56 |
Enterprise Value 137.58M | Price to Sales(TTM) 1.56 | ||
Enterprise Value to Revenue 1.77 | Enterprise Value to EBITDA -10.67 | Shares Outstanding 109.51M | Shares Floating 89.09M |
Shares Outstanding 109.51M | Shares Floating 89.09M | ||
Percent Insiders 7.11 | Percent Institutions 74.19 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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