Codexis price target lowered to $14 from $21 at Piper Sandler

Piper Sandler lowered the firm’s price target on Codexis to $14 from $21 and keeps an Overweight rating on the shares after taking over coverage of the name. In the midst of a shift away from its heritage small molecule pharma manufacturing business in favor of more scalable opportunities in the life sciences business, and now with its biotherapeutics pipeline emerging as a top priority, the setup for Codexis shares if favorable, the analyst tells investors in a research note.