Wall Street analysts expect Codexis, Inc. (NASDAQ:CDXS – Get Rating) to report earnings per share of ($0.18) for the current fiscal quarter, according to Zacks Investment Research. Four analysts released Codexis earnings estimates, with the highest EPS estimate at ($0.15) and the lowest estimate at $0.20. Codexis reported earnings of ($0.14) per share in the same quarter last year, indicating a negative 28.6% year-over-year growth rate. The company is expected to announce its next results after the market closes on Monday, January 1.
On average, analysts expect Codexis to report annual earnings of ($0.43) per share for the current year, with EPS estimates ranging from ($0.51) to ($0.30 $). For the next fiscal year, analysts expect the company to post earnings of ($0.25) per share, with EPS estimates ranging from ($0.54) to $0.29. Zacks BPA calculations are an average based on a survey of sell-side research companies that follow Codexis.
Codexis (NASDAQ:CDXS – Get Rating) last released its results on Thursday, February 24. The biotech company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company posted revenue of $24.50 million for the quarter, versus analyst estimates of $23.15 million. Codexis had a negative return on equity of 12.90% and a negative net margin of 20.31%. Codexis revenue increased 16.5% year over year. In the same quarter a year earlier, the company posted ($0.06) earnings per share.
A number of research analysts have weighed in on CDXS shares recently. HC Wainwright restated a “buy” rating and set a price target of $38.00 on Codexis shares in a Friday, February 25 research report. Cowen began covering Codexis stocks in a research report on Wednesday, March 2. They set a “buy” rating and a price target of $39.00 on the stock. Zacks Investment Research upgraded Codexis shares from a “hold” rating to a “buy” rating and set a price target of $14.00 on the stock in a research report Wednesday. StockNews.com began covering Codexis stocks in a research report on Thursday, March 31. They put a “sell” mark on the stock. Finally, TheStreet downgraded Codexis shares from a “c-” rating to a “d” rating in a research report on Thursday, February 24. One financial analyst has assigned the stock a sell rating and six have assigned the company’s stock a buy rating. According to data from MarketBeat, Codexis has a consensus rating of “Buy” and a consensus target price of $30.83.
The NASDAQ CDXS traded down $0.17 during Friday’s trading, hitting $12.03. 1,066,996 shares of the company were traded, with an average volume of 768,237. The company has a 50-day moving average price of $18.51 and a 200-day moving average price of $25.33. Codexis has a fifty-two week low of $11.57 and a fifty-two week high of $42.01. The stock has a market capitalization of $783.87 million, a P/E ratio of -35.38 and a beta of 1.76.
Separately, director Dennis P. Wolf sold 4,000 shares of the company in a trade dated Wednesday, March 23. The shares were sold at an average price of $20.49, for a total value of $81,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, CEO John J. Nicols sold 38,500 shares of the company in a trade dated Thursday, March 10. The shares were sold at an average price of $18.93, for a total transaction of $728,805.00. The disclosure of this sale can be found here. 7.50% of the shares are currently held by insiders of the company.
Institutional investors have recently changed their stake in the company. Allspring Global Investments Holdings LLC acquired a new stake in Codexis during Q4 valued at approximately $50,167,000. Victory Capital Management Inc. purchased a new stake in Codexis stock in Q4 worth $48,112,000. ARK Investment Management LLC increased its stake in Codexis shares by 21.5% in Q1. ARK Investment Management LLC now owns 3,942,637 shares of the biotech company valued at $81,297,000 after acquiring an additional 698,597 shares in the last quarter. Marshall Wace LLP increased its equity stake in Codexis to 797.5% in Q4. Marshall Wace LLP now owns 713,823 shares of the biotech company valued at $22,319,000 after acquiring an additional 634,285 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in Codexis shares by 8.5% in the 4th quarter. Baillie Gifford & Co. now owns 7,182,402 shares of the biotech company valued at $224,593,000 after acquiring an additional 563,579 shares in the last quarter.
About Codexis (Get an assessment)
Codexis, Inc discovers, develops and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals that are used for further chemical processing; and Codex Biocatalyst Panels and Kits that allow customers to perform chemical screening. The company also provides biocatalyst screening and protein engineering services.
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