Codexis, Inc. (CDXS) Expected to Announce Earnings of -$0.13 Per Share
Wall Street brokerages expect Codexis, Inc. (NASDAQ:CDXS) to report ($0.13) earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Codexis’ earnings, with the highest EPS estimate coming in at ($0.12) and the lowest estimate coming in at ($0.14). Codexis posted earnings of $0.05 per share in the same quarter last year, which suggests a negative year over year growth rate of 360%. The business is scheduled to issue its next earnings results on Tuesday, August 8th.
On average, analysts expect that Codexis will report full year earnings of ($0.31) per share for the current year, with EPS estimates ranging from ($0.35) to ($0.26). For the next financial year, analysts forecast that the business will post earnings of ($0.14) per share, with EPS estimates ranging from ($0.20) 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 posted its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $7.97 million for the quarter, compared to analyst estimates of $9.23 million. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Codexis’s revenue was down .4% on a year-over-year basis.
Several research firms have recently issued reports on CDXS. HC Wainwright set a $8.00 price objective on shares of Codexis and gave the company a “buy” rating in a report on Thursday, May 11th. Zacks Investment Research lowered shares of Codexis from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Finally, Jefferies Group LLC assumed coverage on shares of Codexis in a research note on Wednesday, May 31st. They set a “buy” rating and a $8.00 target price for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Codexis presently has a consensus rating of “Hold” and a consensus target price of $6.50.
Shares of Codexis (CDXS) remained flat at $4.80 on Thursday. The company had a trading volume of 391,472 shares. Codexis has a 1-year low of $3.60 and a 1-year high of $5.29. The stock’s market cap is $231.21 million. The company’s 50 day moving average price is $4.54 and its 200-day moving average price is $4.57.
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Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in 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 valued at $107,000 after buying an additional 21,946 shares in the last quarter. Bank of America Corp DE raised 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 valued at $122,000 after buying an additional 717 shares in the last quarter. Teachers Advisors LLC raised 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 valued at $267,000 after buying an additional 5,264 shares in the last quarter. Wells Fargo & Company MN raised 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 valued at $282,000 after buying an additional 11,500 shares in the last quarter. Finally, Comprehensive Portfolio Management LLC acquired a new stake in Codexis during the fourth quarter valued at approximately $336,000. 51.27% of the stock is owned by institutional investors and hedge funds.
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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