-$0.14 Earnings Per Share Expected for Codexis, Inc. (CDXS) This Quarter
Equities research analysts predict that Codexis, Inc. (NASDAQ:CDXS) will announce earnings per share of ($0.14) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Codexis’ earnings. The highest EPS estimate is ($0.08) and the lowest is ($0.17). Codexis reported earnings of $0.03 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 566.7%. The company is expected to report its next earnings results on Tuesday, November 14th.
On average, analysts expect that Codexis will report full year earnings of ($0.37) per share for the current financial year, with EPS estimates ranging from ($0.41) to ($0.30). For the next year, analysts expect that the company will report earnings of ($0.12) per share, with EPS estimates ranging from ($0.14) to ($0.09). Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Codexis.
Codexis (NASDAQ:CDXS) last released its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The company had revenue of $10.30 million during the quarter, compared to analyst estimates of $9.61 million. Codexis had a negative return on equity of 83.39% and a negative net margin of 40.70%. The company’s revenue for the quarter was down 35.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 earnings per share.
CDXS has been the topic of several research reports. Zacks Investment Research raised shares of Codexis from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. HC Wainwright set a $8.00 price objective on shares of Codexis and gave the company a “buy” rating in a research report on Friday, August 11th. BidaskClub raised shares of Codexis from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. ValuEngine cut shares of Codexis from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Jefferies Group LLC initiated coverage on shares of Codexis in a research report on Wednesday, May 31st. They issued a “buy” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.80.
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Codexis (NASDAQ CDXS) traded up 0.446% during mid-day trading on Friday, hitting $5.625. The stock had a trading volume of 59,372 shares. The company has a 50-day moving average price of $5.38 and a 200 day moving average price of $4.83. The company’s market cap is $271.82 million. Codexis has a 1-year low of $3.60 and a 1-year high of $5.75.
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in shares of Codexis by 7,242.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 22,249 shares of the biotechnology company’s stock worth $107,000 after purchasing an additional 21,946 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of Codexis by 15.7% during the 2nd quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 2,928 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Codexis by 2.9% during the 1st quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock worth $122,000 after purchasing an additional 717 shares during the last quarter. Perkins Capital Management Inc. acquired a new position in shares of Codexis during the 2nd quarter worth about $164,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Codexis by 30.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock worth $192,000 after purchasing an additional 8,244 shares during the last quarter. Institutional investors own 63.62% of the company’s stock.
Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.
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