Codexis, Inc. (CDXS) Expected to Announce Earnings of -$0.14 Per Share
Brokerages expect Codexis, Inc. (NASDAQ:CDXS) to report earnings per share of ($0.14) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Codexis’ earnings, with the lowest EPS estimate coming in at ($0.17) and the highest estimate coming in at ($0.08). Codexis reported earnings per share of $0.03 during the same quarter last year, which indicates a negative year-over-year growth rate of 566.7%. The company is expected to issue its next earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Codexis will report full year earnings of ($0.37) per share for the current fiscal year, with EPS estimates ranging from ($0.41) to ($0.30). For the next financial year, analysts forecast that the business will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.14) to ($0.09). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Codexis.
Codexis (NASDAQ:CDXS) last issued its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). Codexis had a negative return on equity of 83.39% and a negative net margin of 40.70%. The firm had revenue of $10.30 million for the quarter, compared to the consensus estimate of $9.61 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The business’s quarterly revenue was down 35.6% compared to the same quarter last year.
Several brokerages recently commented on CDXS. BidaskClub downgraded Codexis from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. ValuEngine raised Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Zacks Investment Research downgraded Codexis from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Jefferies Group LLC assumed coverage on Codexis in a research note on Wednesday, May 31st. They issued a “buy” rating and a $8.00 price target on the stock. Finally, HC Wainwright set a $8.00 price target on Codexis and gave the company a “buy” rating in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Codexis presently has an average rating of “Hold” and a consensus price target of $6.80.
Shares of Codexis (NASDAQ CDXS) traded up 0.86% on Friday, reaching $5.85. The company’s stock had a trading volume of 112,930 shares. The company has a 50 day moving average price of $5.39 and a 200 day moving average price of $4.87. The company’s market cap is $282.70 million. Codexis has a 52-week low of $3.60 and a 52-week high of $5.85.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in shares of Codexis by 7,242.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 22,249 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 21,946 shares during the period. Nationwide Fund Advisors raised its stake in shares of 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 raised its stake in shares of 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. Perkins Capital Management Inc. acquired a new stake in shares of Codexis in the 2nd quarter valued at about $164,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of 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. 63.62% of the stock is currently owned by hedge funds and other institutional investors.
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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