Analysts Anticipate Codexis, Inc. (CDXS) Will Announce Quarterly Sales of $22.96 Million

Equities analysts forecast that Codexis, Inc. (NASDAQ:CDXS) will post sales of $22.96 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Codexis’ earnings, with the lowest sales estimate coming in at $22.10 million and the highest estimate coming in at $24.09 million. Codexis posted sales of $9.97 million during the same quarter last year, which would indicate a positive year over year growth rate of 130.3%. The firm is scheduled to issue its next earnings results on Thursday, March 8th.

According to Zacks, analysts expect that Codexis will report full-year sales of $22.96 million for the current year, with estimates ranging from $50.40 million to $52.39 million. For the next financial year, analysts forecast that the business will report sales of $68.57 million per share, with estimates ranging from $62.42 million to $77.28 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Codexis.

Codexis (NASDAQ:CDXS) last issued its earnings results on Thursday, November 9th. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). Codexis had a negative return on equity of 140.02% and a negative net margin of 76.37%.

CDXS has been the topic of a number of research reports. BidaskClub cut Codexis from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. HC Wainwright upped their price target on Codexis from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Friday, October 13th. Jefferies Group restated a “buy” rating and issued a $9.00 price target (up previously from $8.00) on shares of Codexis in a report on Monday, October 2nd. Finally, Zacks Investment Research upgraded Codexis from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $7.81.

Shares of Codexis (NASDAQ CDXS) traded down $0.05 during mid-day trading on Tuesday, hitting $9.00. The stock had a trading volume of 256,700 shares, compared to its average volume of 340,944. The stock has a market cap of $435.12, a P/E ratio of -13.85 and a beta of -1.59. Codexis has a fifty-two week low of $3.60 and a fifty-two week high of $9.45.

Large investors have recently made changes to their positions in the business. Nationwide Fund Advisors grew its holdings in Codexis by 15.7% during the 2nd quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 2,928 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Codexis by 30.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 8,244 shares during the last quarter. Rhumbline Advisers grew its holdings in Codexis by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 42,872 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 8,095 shares during the last quarter. Teachers Advisors LLC grew its holdings in Codexis by 16.5% during the 2nd quarter. Teachers Advisors LLC now owns 67,569 shares of the biotechnology company’s stock valued at $368,000 after buying an additional 9,552 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in Codexis by 7.4% during the 2nd quarter. California State Teachers Retirement System now owns 72,298 shares of the biotechnology company’s stock valued at $394,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 65.71% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Analysts Anticipate Codexis, Inc. (CDXS) Will Announce Quarterly Sales of $22.96 Million” was published by American Banking News and is the property of of American Banking News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/16/analysts-anticipate-codexis-inc-cdxs-will-announce-quarterly-sales-of-22-96-million.html.

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.

Get a free copy of the Zacks research report on Codexis (CDXS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Codexis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Codexis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply