Codexis, Inc. (CDXS) Expected to Announce Earnings of -$0.13 Per Share
Equities analysts predict that Codexis, Inc. (NASDAQ:CDXS) will announce ($0.13) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Codexis’ earnings, with estimates ranging from ($0.14) to ($0.12). Codexis posted earnings of $0.05 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 360%. The company is scheduled to announce its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Codexis will report full-year earnings of ($0.28) per share for the current fiscal year, with EPS estimates ranging from ($0.29) to ($0.26). For the next year, analysts expect that the business will post earnings of ($0.09) per share, with EPS estimates ranging from ($0.11) to ($0.08). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Codexis.
Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.15) by $0.03. Codexis had a negative net margin of 18.53% and a negative return on equity of 49.35%. The business had revenue of $7.97 million during the quarter, compared to analysts’ expectations of $9.23 million. During the same period in the previous year, the business earned ($0.11) EPS. The business’s revenue was down .4% on a year-over-year basis.
A number of equities research analysts have issued reports on CDXS shares. HC Wainwright set a $8.00 price objective on Codexis and gave the company a “buy” rating in a research report on Thursday, May 11th. Zacks Investment Research cut Codexis from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Jefferies Group LLC began coverage on Codexis in a research note on Wednesday, May 31st. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, ValuEngine raised Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.50.
Codexis (NASDAQ CDXS) traded up 1.83% during mid-day trading on Tuesday, hitting $5.55. The company’s stock had a trading volume of 64,114 shares. The stock’s market cap is $267.34 million. The company’s 50 day moving average is $4.67 and its 200-day moving average is $4.59. Codexis has a 52-week low of $3.60 and a 52-week high of $5.55.
A number of institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position 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 during the period. Bank of America Corp DE boosted its stake in 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 during the period. Teachers Advisors LLC boosted its stake in Codexis by 10.0% in the fourth quarter. Teachers Advisors LLC now owns 58,017 shares of the biotechnology company’s stock worth $267,000 after buying an additional 5,264 shares during the period. Wells Fargo & Company MN boosted its stake in Codexis by 24.4% in the first quarter. Wells Fargo & Company MN now owns 58,694 shares of the biotechnology company’s stock worth $282,000 after buying an additional 11,500 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in Codexis by 1.1% in the first quarter. TIAA CREF Investment Management LLC now owns 102,294 shares of the biotechnology company’s stock worth $491,000 after buying an additional 1,099 shares during the period. Institutional investors own 51.11% of the company’s stock.
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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