Codexis, Inc. (CDXS) Expected to Announce Earnings of -$0.16 Per Share
Equities analysts forecast that Codexis, Inc. (NASDAQ:CDXS) will report earnings per share (EPS) of ($0.16) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Codexis’ earnings. The lowest EPS estimate is ($0.18) and the highest is ($0.13). Codexis reported earnings per share of $0.03 during the same quarter last year, which would suggest a negative year-over-year growth rate of 633.3%. The company is expected to report its next quarterly earnings report after the market closes on Tuesday, November 14th.
On average, analysts expect that Codexis will report full-year earnings of ($0.42) per share for the current year, with EPS estimates ranging from ($0.45) to ($0.37). For the next year, analysts anticipate that the business will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.30) to ($0.02). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Codexis.
Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). The business had revenue of $10.30 million for 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%. Codexis’s quarterly revenue was down 35.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS.
Several brokerages have commented on CDXS. Jefferies Group LLC lifted their price target on Codexis from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. HC Wainwright lifted their price target on Codexis from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research raised Codexis from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. ValuEngine raised Codexis from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, BidaskClub raised Codexis from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Codexis has a consensus rating of “Hold” and an average price target of $7.50.
In other news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $5.78, for a total transaction of $6,126,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. William Blair Investment Management LLC boosted its stake in Codexis by 10.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,090,072 shares of the biotechnology company’s stock valued at $5,941,000 after buying an additional 103,233 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Codexis by 10.4% in the 1st quarter. Bank of New York Mellon Corp now owns 136,053 shares of the biotechnology company’s stock valued at $653,000 after buying an additional 12,841 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in Codexis by 607.8% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 2,040,324 shares of the biotechnology company’s stock valued at $11,120,000 after buying an additional 1,752,049 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Codexis by 24.4% in the 1st quarter. Wells Fargo & Company MN now owns 58,694 shares of the biotechnology company’s stock valued at $282,000 after buying an additional 11,500 shares in the last quarter. Finally, Perkins Capital Management Inc. acquired a new stake in Codexis in the 2nd quarter valued at $164,000. 63.64% of the stock is currently owned by institutional investors and hedge funds.
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Codexis (NASDAQ:CDXS) traded up $0.20 during trading on Friday, reaching $6.35. The company’s stock had a trading volume of 253,953 shares, compared to its average volume of 226,391. Codexis has a one year low of $3.60 and a one year high of $7.95.
Codexis Company Profile
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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