Codexis, Inc. (CDXS) Posts Earnings Results, Meets Expectations
Codexis, Inc. (NASDAQ:CDXS) issued its quarterly earnings results on Wednesday. The biotechnology company reported ($0.13) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.13), Morningstar.com reports. Codexis had a negative return on equity of 49.35% and a negative net margin of 18.53%. The business had revenue of $10.30 million during the quarter, compared to the consensus estimate of $9.61 million. During the same period in the previous year, the business earned $0.12 EPS. The business’s quarterly revenue was down 35.6% on a year-over-year basis.
Shares of Codexis (CDXS) traded up 1.471% on Thursday, reaching $5.175. The company had a trading volume of 19,419 shares. The firm’s market capitalization is $249.27 million. The company’s 50-day moving average is $5.33 and its 200 day moving average is $4.71. Codexis has a 12 month low of $3.60 and a 12 month high of $5.70.
CDXS has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Codexis from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. Jefferies Group LLC initiated coverage on Codexis in a report on Wednesday, May 31st. They issued a “buy” rating and a $8.00 price target for the company. HC Wainwright set a $8.00 price target on Codexis and gave the company a “buy” rating in a report on Thursday, May 11th. ValuEngine downgraded Codexis from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Finally, BidaskClub upgraded Codexis from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $6.80.
Several hedge funds have recently made changes to their positions in the company. Perkins Capital Management Inc. purchased a new stake in shares of Codexis during the second quarter worth approximately $164,000. Prescott Group Capital Management L.L.C. increased its stake in shares of Codexis by 607.8% in the second quarter. Prescott Group Capital Management L.L.C. now owns 2,040,324 shares of the biotechnology company’s stock worth $11,120,000 after buying an additional 1,752,049 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Codexis by 7,242.9% in the first quarter. Tower Research Capital LLC TRC now owns 22,249 shares of the biotechnology company’s stock worth $107,000 after buying an additional 21,946 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Codexis by 2.9% in the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock worth $122,000 after buying an additional 717 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Codexis by 4.2% in the first quarter. Geode Capital Management LLC now owns 226,644 shares of the biotechnology company’s stock worth $1,087,000 after buying an additional 9,191 shares in the last quarter. Institutional investors own 54.90% of the company’s stock.
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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