Brokerages expect that Codexis, Inc. (NASDAQ:CDXS) will post $22.66 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Codexis’ earnings, with estimates ranging from $21.80 million to $24.09 million. Codexis reported sales of $9.97 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 127.3%. The company is expected to announce its next earnings report on Thursday, March 8th.

According to Zacks, analysts expect that Codexis will report full-year sales of $22.66 million for the current financial year, with estimates ranging from $50.40 million to $52.39 million. For the next year, analysts forecast that the company will post sales of $68.57 million per share, with estimates ranging from $62.42 million to $77.28 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Codexis.

CDXS has been the subject of several analyst reports. Jefferies Group reiterated a “buy” rating and issued a $9.00 price objective (up previously from $8.00) on shares of Codexis in a research note on Monday, October 2nd. HC Wainwright restated a “buy” rating and set a $8.50 price target on shares of Codexis in a research note on Tuesday, November 21st. BidaskClub upgraded shares of Codexis from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Zacks Investment Research upgraded shares of Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, ValuEngine upgraded shares of Codexis from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Codexis has a consensus rating of “Hold” and an average price target of $7.50.

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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.80% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors boosted its holdings in Codexis by 15.7% in the 2nd quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 2,928 shares during the period. Bank of America Corp DE boosted its holdings in Codexis by 2.9% in the 1st quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 717 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Codexis by 30.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 8,244 shares during the period. Rhumbline Advisers boosted its holdings in Codexis by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 42,872 shares of the biotechnology company’s stock valued at $234,000 after purchasing an additional 8,095 shares during the period. Finally, White Pine Capital LLC bought a new position in Codexis in the 2nd quarter valued at $277,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Shares of Codexis (NASDAQ CDXS) opened at $7.70 on Wednesday. Codexis has a one year low of $3.60 and a one year high of $7.95.

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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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Earnings History and Estimates for Codexis (NASDAQ:CDXS)

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