Codexis, Inc. (CDXS) Expected to Post Earnings of -$0.04 Per Share

Equities analysts expect that Codexis, Inc. (NASDAQ:CDXS) will report earnings per share of ($0.04) for the current quarter, Zacks reports. Two analysts have made estimates for Codexis’ earnings. The highest EPS estimate is ($0.01) and the lowest is ($0.06). Codexis posted earnings of ($0.02) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 100%. The firm is expected to report its next quarterly earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that Codexis will report full year earnings of ($0.06) per share for the current financial year, with EPS estimates ranging from ($0.13) to $0.02. For the next year, analysts anticipate that the firm will report earnings of $0.07 per share, with EPS estimates ranging from $0.05 to $0.08. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Codexis.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Monday, May 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). Codexis had a negative return on equity of 21.08% and a negative net margin of 18.22%. The business had revenue of $15.58 million for the quarter, compared to analysts’ expectations of $14.83 million.

Several equities research analysts have commented on the company. Zacks Investment Research cut Codexis from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. BidaskClub upgraded Codexis from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. ValuEngine upgraded Codexis from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 1st. HC Wainwright boosted their target price on Codexis to $22.50 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, Craig Hallum boosted their target price on Codexis from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.07.

In other news, SVP James Lalonde sold 19,999 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $18.65, for a total transaction of $372,981.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John J. Nicols sold 55,072 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $20.83, for a total value of $1,147,149.76. Following the sale, the insider now owns 1,087,751 shares in the company, valued at approximately $22,657,853.33. The disclosure for this sale can be found here. Insiders sold a total of 164,071 shares of company stock worth $3,388,171 in the last 90 days. Company insiders own 10.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC bought a new stake in shares of Codexis during the 4th quarter worth approximately $26,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Codexis by 152.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,837 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 1,711 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of Codexis during the 1st quarter worth approximately $66,000. Advisor Group Inc. raised its stake in shares of Codexis by 184.2% during the 1st quarter. Advisor Group Inc. now owns 3,342 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 2,166 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Codexis by 236.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,375 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 3,075 shares in the last quarter. Institutional investors own 85.74% of the company’s stock.

Shares of NASDAQ:CDXS traded down $0.52 during trading on Friday, hitting $19.10. 14,197 shares of the company’s stock traded hands, compared to its average volume of 295,054. The stock has a market capitalization of $1.05 billion, a PE ratio of -90.95 and a beta of -0.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.42 and a quick ratio of 3.38. Codexis has a 52 week low of $12.85 and a 52 week high of $23.05.

About Codexis

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.

Further Reading: Return on Investment (ROI) Defined, Explained

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