5 Best High Risk Penny Stocks to Buy Right Now

4. Codexis Inc (NASDAQ:CDXS)

On March 12, Matt Hewitt of Craig-Hallum reiterated his Buy rating on Codexis Inc. (NASDAQ:CDXS). Just a day prior to this, TD Cowen analyst Brendan Smith also maintained his Hold rating on the stock with a price target of $2. This is the lowest price target for the shares on Wall Street, and it still offers 36% upside from here.

Codexis Inc (NASDAQ:CDXS) announced its Q4 2025 earnings on March 11, reporting $38.9 million in revenue for the quarter and $70.4 million for the full year. In addition to 18.7% YoY revenue growth, the firm improved its gross margin from 56% to 64% over the same period.

For the year 2026, CDXS expects $74 million in revenue at the midpoint, with most of the revenue coming in the latter half of the year. Here’s how CEO Alison Moore described the company’s 2026 plans:

“Our goals for 2026 are simple, show our investors proof of success. We can do this by signing the types of contracts I mentioned above and also new innovative licensing deals.”

Codexis Inc (NASDAQ:CDXS) owns the CodeEvolver platform, which helps in the discovery, development, and commercialization of novel enzymes across the world. It also offers the ECO Synthesis manufacturing platform, which is used in the manufacturing of RNAi therapeutics. It was founded in 2002 and is headquartered in California, USA.