Brokerages Anticipate Codexis, Inc. (CDXS) Will Announce Earnings of -$0.03 Per Share
Wall Street analysts expect that Codexis, Inc. (NASDAQ:CDXS) will report earnings of ($0.03) per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Codexis’ earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.03). Codexis posted earnings of ($0.21) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 85.7%. The firm is expected to announce its next earnings report on Thursday, November 8th.
On average, analysts expect that Codexis will report full-year earnings of ($0.07) per share for the current year, with EPS estimates ranging from ($0.09) to ($0.05). For the next financial year, analysts forecast that the firm will post earnings of $0.00 per share, with EPS estimates ranging from ($0.09) to $0.15. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Codexis.
Codexis (NASDAQ:CDXS) last issued its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. The company had revenue of $13.54 million during the quarter, compared to analyst estimates of $11.87 million. Codexis had a negative net margin of 29.83% and a negative return on equity of 61.93%.
Shares of NASDAQ:CDXS traded down $0.05 during trading on Tuesday, reaching $18.25. 383,334 shares of the company traded hands, compared to its average volume of 360,535. The firm has a market capitalization of $989.98 million, a P/E ratio of -37.15 and a beta of -2.09. Codexis has a 1-year low of $5.55 and a 1-year high of $19.30.
In other news, Director Thomas R. Baruch sold 25,000 shares of the firm’s stock in a transaction on Tuesday, June 26th. The shares were sold at an average price of $14.93, for a total transaction of $373,250.00. Following the transaction, the director now owns 165,593 shares in the company, valued at approximately $2,472,303.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernard J. Kelley sold 10,206 shares of the firm’s stock in a transaction on Thursday, June 21st. The shares were sold at an average price of $16.58, for a total transaction of $169,215.48. Following the transaction, the director now owns 225,668 shares in the company, valued at approximately $3,741,575.44. The disclosure for this sale can be found here. Insiders have sold a total of 358,836 shares of company stock valued at $5,464,028 in the last three months. Company insiders own 11.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CDXS. Wells Fargo & Company MN raised its holdings in shares of Codexis by 17.9% during the 1st quarter. Wells Fargo & Company MN now owns 1,181,327 shares of the biotechnology company’s stock valued at $12,995,000 after purchasing an additional 179,241 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Codexis during the 1st quarter valued at $148,000. Baillie Gifford & Co. raised its holdings in shares of Codexis by 25.0% during the 1st quarter. Baillie Gifford & Co. now owns 2,302,979 shares of the biotechnology company’s stock valued at $25,332,000 after purchasing an additional 460,578 shares in the last quarter. Spark Investment Management LLC bought a new position in shares of Codexis during the 1st quarter valued at $1,405,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Codexis by 30.5% during the 1st quarter. New York State Common Retirement Fund now owns 44,900 shares of the biotechnology company’s stock valued at $494,000 after purchasing an additional 10,500 shares in the last quarter. Institutional investors and hedge funds own 77.35% of the company’s stock.
Codexis Company Profile
Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.
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