Codexis (NASDAQ:CDXS) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.03, Morningstar.com reports. The business had revenue of $16.95 million during the quarter, compared to analysts’ expectations of $14.63 million. Codexis had a negative net margin of 29.83% and a negative return on equity of 61.93%. Codexis updated its FY 2018 guidance to EPS.
Shares of Codexis stock traded down $1.01 during trading on Friday, hitting $15.71. The company’s stock had a trading volume of 341,487 shares, compared to its average volume of 301,554. The firm has a market cap of $905.96 million, a price-to-earnings ratio of -31.42 and a beta of -1.60. Codexis has a 52 week low of $5.70 and a 52 week high of $19.60.
In related news, insider John J. Nicols sold 14,259 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $15.14, for a total value of $215,881.26. Following the completion of the transaction, the insider now directly owns 1,084,538 shares in the company, valued at approximately $16,419,905.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Bernard J. Kelley sold 16,666 shares of the stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $17.15, for a total transaction of $285,821.90. Following the completion of the transaction, the director now owns 242,334 shares of the company’s stock, valued at $4,156,028.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 508,329 shares of company stock valued at $8,354,797. 11.40% of the stock is owned by company insiders.
CDXS has been the subject of several research analyst reports. Zacks Investment Research raised shares of Codexis from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Thursday, August 16th. BidaskClub cut shares of Codexis from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. Finally, Craig Hallum raised their target price on shares of Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, September 5th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $16.40.
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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.
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