Equities analysts expect that Codexis, Inc. (NASDAQ:CDXS) will announce sales of $10.00 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Codexis’ earnings, with the lowest sales estimate coming in at $9.63 million and the highest estimate coming in at $10.48 million. Codexis posted sales of $14.87 million during the same quarter last year, which would indicate a negative year over year growth rate of 32.8%. The business is scheduled to issue its next earnings report on Tuesday, November 14th.

According to Zacks, analysts expect that Codexis will report full-year sales of $10.00 million for the current fiscal year, with estimates ranging from $50.31 million to $51.74 million. For the next financial year, analysts forecast that the firm will post sales of $64.80 million per share, with estimates ranging from $59.61 million to $68.78 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Codexis.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.13). The business had revenue of $10.30 million for the quarter, compared to the consensus estimate of $9.61 million. Codexis had a negative return on equity of 83.39% and a negative net margin of 40.70%. The firm’s quarterly revenue was down 35.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 earnings per share.

CDXS has been the topic of several research analyst reports. BidaskClub cut shares of Codexis from a “buy” rating to a “hold” rating in a report on Friday, July 28th. ValuEngine raised shares of Codexis from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Zacks Investment Research cut shares of Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 14th. HC Wainwright set a $8.00 price target on shares of Codexis and gave the stock a “buy” rating in a report on Friday, August 11th. Finally, Jefferies Group LLC upped their price target on shares of Codexis from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Codexis has a consensus rating of “Hold” and an average price target of $7.50.

Shares of Codexis (NASDAQ CDXS) opened at 7.65 on Tuesday. The firm’s market cap is $369.68 million. The company’s 50-day moving average price is $6.17 and its 200-day moving average price is $5.20. Codexis has a 12 month low of $3.60 and a 12 month high of $7.95.

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In other news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $5.78, for a total value of $6,126,800.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.80% of the company’s stock.

A number of large investors have recently made changes to their positions in CDXS. Teachers Advisors LLC grew its position 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 acquiring an additional 5,264 shares in the last quarter. Wells Fargo & Company MN grew its position 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 acquiring an additional 11,500 shares in the last quarter. Bank of New York Mellon Corp grew its position in Codexis by 10.4% in the first quarter. Bank of New York Mellon Corp now owns 136,053 shares of the biotechnology company’s stock worth $653,000 after acquiring an additional 12,841 shares in the last quarter. TIAA CREF Investment Management LLC grew its position 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 acquiring an additional 1,099 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in 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 acquiring an additional 9,191 shares in the last quarter. Institutional investors own 63.62% of the company’s stock.

About Codexis

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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Earnings History and Estimates for Codexis (NASDAQ:CDXS)

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