Analysts Expect Codexis, Inc. (NASDAQ:CDXS) to Announce -$0.11 EPS

Brokerages expect Codexis, Inc. (NASDAQ:CDXS – Get Rating) to announce ($0.11) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Codexis’ earnings, with estimates ranging from ($0.16) to ($0.08). Codexis reported earnings of ($0.07) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 57.1%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Codexis will report full-year earnings of ($0.44) per share for the current financial year, with EPS estimates ranging from ($0.55) to ($0.30). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.31) per share, with EPS estimates ranging from ($0.53) to ($0.13). Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Codexis.

Codexis (NASDAQ:CDXS – Get Rating) last issued its earnings results on Thursday, May 5th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. The firm had revenue of $35.34 million during the quarter, compared to analyst estimates of $28.58 million. Codexis had a negative net margin of 16.85% and a negative return on equity of 12.56%. The company’s quarterly revenue was up 96.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.14) earnings per share.

A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Codexis from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. StockNews.com initiated coverage on shares of Codexis in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. TheStreet downgraded shares of Codexis from a “c-” rating to a “d” rating in a research note on Thursday, February 24th. Cowen assumed coverage on shares of Codexis in a research note on Wednesday, March 2nd. They issued a “buy” rating and a $39.00 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Codexis in a report on Friday, February 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $30.83.

Shares of CDXS stock traded up $0.95 during trading hours on Friday, reaching $11.05. The stock had a trading volume of 1,283,765 shares, compared to its average volume of 848,081. The stock’s fifty day simple moving average is $15.40 and its 200 day simple moving average is $22.52. Codexis has a 12 month low of $9.47 and a 12 month high of $42.01. The firm has a market capitalization of $721.61 million, a PE ratio of -33.64 and a beta of 1.96.

In other Codexis news, CEO John J. Nicols sold 38,500 shares of the business’s stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $18.93, for a total value of $728,805.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis P. Wolf sold 4,000 shares of the business’s stock in a transaction dated Wednesday, March 23rd. The stock was sold at an average price of $20.49, for a total value of $81,960.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,000 shares of company stock worth $1,207,700. 7.50% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDXS. Allspring Global Investments Holdings LLC bought a new position in Codexis in the 4th quarter worth approximately $50,167,000. Victory Capital Management Inc. bought a new position in Codexis in the 4th quarter worth approximately $48,112,000. ARK Investment Management LLC boosted its stake in Codexis by 21.5% in the 1st quarter. ARK Investment Management LLC now owns 3,942,637 shares of the biotechnology company’s stock worth $81,297,000 after purchasing an additional 698,597 shares during the period. Marshall Wace LLP boosted its stake in Codexis by 797.5% in the 4th quarter. Marshall Wace LLP now owns 713,823 shares of the biotechnology company’s stock worth $22,319,000 after purchasing an additional 634,285 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in Codexis by 8.5% in the 4th quarter. Baillie Gifford & Co. now owns 7,182,402 shares of the biotechnology company’s stock worth $224,593,000 after purchasing an additional 563,579 shares during the period.

About Codexis (Get Rating)

Codexis, Inc discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; 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 biocatalyst screening and protein engineering services.

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