Codexis, Inc. (CDXS) Scheduled to Post Quarterly Earnings on Monday
Codexis, Inc. (NASDAQ:CDXS) is set to issue its quarterly earnings data after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of ($0.17) per share for the quarter.
Codexis (NASDAQ:CDXS) last released its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). The firm had revenue of $10.30 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 35.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share. On average, analysts expect Codexis to post $-0.42 EPS for the current fiscal year and $-0.16 EPS for the next fiscal year.
Codexis, Inc. (NASDAQ CDXS) opened at 6.60 on Monday. The company’s market cap is $318.94 million. The stock’s 50 day moving average price is $6.56 and its 200-day moving average price is $5.37. Codexis, Inc. has a 1-year low of $3.60 and a 1-year high of $7.95.
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In related news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of Codexis stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $5.78, for a total value of $6,126,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.80% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in Codexis stock. The Manufacturers Life Insurance Company grew its holdings in Codexis, Inc. (NASDAQ:CDXS) by 30.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,264 shares of the biotechnology company’s stock after acquiring an additional 8,244 shares during the period. The Manufacturers Life Insurance Company owned about 0.09% of Codexis worth $192,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 63.64% of the company’s stock.
Several research firms recently weighed in on CDXS. HC Wainwright set a $8.00 target price on shares of Codexis and gave the company a “buy” rating in a report on Friday, August 11th. BidaskClub upgraded shares of Codexis from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research downgraded shares of Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $9.00 target price (up previously from $8.00) on shares of Codexis in a report on Monday, October 2nd. Finally, ValuEngine upgraded shares of Codexis from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $7.50.
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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