Codexis, Inc. (NASDAQ:CDXS) is scheduled to be issuing its quarterly earnings data after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of ($0.17) per share for the quarter.
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. On average, analysts expect Codexis to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Shares of Codexis, Inc. (NASDAQ CDXS) opened at $6.35 on Friday. Codexis, Inc. has a 12-month low of $3.60 and a 12-month high of $7.95.
CDXS has been the topic of a number of analyst reports. ValuEngine raised Codexis from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. HC Wainwright increased their price target on Codexis from $8.00 to $8.50 and gave the stock a “buy” rating in a research report on Friday, October 13th. BidaskClub raised Codexis from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. Jefferies Group LLC reissued a “buy” rating and set a $9.00 price target (up previously from $8.00) on shares of Codexis in a research report on Monday, October 2nd. Finally, Zacks Investment Research raised Codexis from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Wednesday, July 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.50.
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In other Codexis 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 stock was sold at an average price of $5.78, for a total transaction of $6,126,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.80% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Codexis stock. The Manufacturers Life Insurance Company grew its position in Codexis, Inc. (NASDAQ:CDXS) by 30.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 35,264 shares of the biotechnology company’s stock after acquiring an additional 8,244 shares during the period. The Manufacturers Life Insurance Company owned 0.09% of Codexis worth $192,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 63.64% of the company’s stock.
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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