Zacks: Analysts Anticipate Codexis, Inc. (NASDAQ:CDXS) to Announce -$0.18 EPS

Wall Street brokerages expect that Codexis, Inc. (NASDAQ:CDXS) will post earnings per share (EPS) of ($0.18) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Codexis’ earnings. The lowest EPS estimate is ($0.25) and the highest is ($0.07). Codexis reported earnings per share of ($0.06) during the same quarter last year, which would suggest a negative year-over-year growth rate of 200%. The company is expected to report its next quarterly earnings report on Thursday, February 24th.

On average, analysts expect that Codexis will report full-year earnings of ($0.30) per share for the current financial year, with EPS estimates ranging from ($0.41) to ($0.24). For the next year, analysts expect that the firm will post earnings of ($0.51) per share, with EPS estimates ranging from ($0.69) to ($0.33). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that cover Codexis.

Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, November 4th. The biotechnology company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.12. Codexis had a negative net margin of 14.82% and a negative return on equity of 9.02%. The company had revenue of $36.77 million for the quarter, compared to analysts’ expectations of $28.52 million. During the same period last year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 100.0% compared to the same quarter last year.

CDXS has been the topic of several research analyst reports. Zacks Investment Research cut shares of Codexis from a “buy” rating to a “hold” rating in a research report on Wednesday, November 10th. TheStreet upgraded shares of Codexis from a “d+” rating to a “c” rating in a report on Friday, August 13th. Cowen raised their price target on shares of Codexis from $25.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, October 14th. Craig Hallum restated a “buy” rating and issued a $30.00 price target on shares of Codexis in a report on Friday, October 1st. Finally, Piper Sandler lifted their price objective on shares of Codexis from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, August 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $31.86.

In other Codexis news, CEO John J. Nicols sold 35,000 shares of the stock in a transaction dated Wednesday, November 10th. The stock was sold at an average price of $40.29, for a total value of $1,410,150.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dennis P. Wolf sold 6,000 shares of the stock in a transaction dated Friday, October 15th. The shares were sold at an average price of $28.30, for a total value of $169,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,000 shares of company stock worth $2,138,750. 7.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its position in shares of Codexis by 32.9% during the third quarter. US Bancorp DE now owns 1,350 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 334 shares during the period. Advisor Group Holdings Inc. raised its holdings in shares of Codexis by 70.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 3,814 shares of the biotechnology company’s stock worth $89,000 after buying an additional 1,576 shares in the last quarter. LPL Financial LLC bought a new stake in Codexis during the 3rd quarter worth $207,000. Teacher Retirement System of Texas bought a new stake in shares of Codexis in the 3rd quarter valued at about $216,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Codexis in the 3rd quarter valued at about $222,000. 98.05% of the stock is currently owned by institutional investors.

Shares of CDXS traded up $0.05 during mid-day trading on Thursday, hitting $36.55. The company had a trading volume of 314,344 shares, compared to its average volume of 594,752. The business’s 50-day simple moving average is $31.34 and its 200-day simple moving average is $25.43. Codexis has a 1-year low of $16.55 and a 1-year high of $42.01. The stock has a market cap of $2.37 billion, a PE ratio of -152.29 and a beta of 1.57.

Codexis Company Profile

Codexis, Inc is an enzyme engineering company, which engages in the development and sale of therapeutics. It operates through the Performance Enzymes and Novel Biotherapeutics segments. The Performance Enzymes segment commercializes CodeEvolver protein engineering technology platform and products in the pharmaceuticals market.

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