Codexis, Inc. (CDXS) Expected to Announce Quarterly Sales of $22.96 Million

Equities research analysts expect Codexis, Inc. (NASDAQ:CDXS) to announce sales of $22.96 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Codexis’ earnings. The lowest sales estimate is $22.10 million and the highest is $24.09 million. Codexis posted sales of $9.97 million during the same quarter last year, which would indicate a positive year over year growth rate of 130.3%. The business is scheduled to report its next earnings report on Thursday, March 8th.

According to Zacks, analysts expect that Codexis will report full year sales of $22.96 million for the current financial year, with estimates ranging from $50.40 million to $52.39 million. For the next fiscal year, analysts forecast that the firm will report sales of $68.57 million per share, with estimates ranging from $62.42 million to $77.28 million. Zacks’ sales averages are an average based on a survey of research firms that cover Codexis.

A number of brokerages have recently issued reports on CDXS. Zacks Investment Research downgraded Codexis from a “hold” rating to a “sell” rating in a report on Friday, February 9th. BidaskClub downgraded Codexis from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.50 price target on shares of Codexis in a report on Tuesday, November 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Codexis currently has an average rating of “Buy” and an average target price of $8.58.

Large investors have recently made changes to their positions in the company. Nationwide Fund Advisors increased its holdings in shares of Codexis by 15.7% in the 2nd quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock valued at $118,000 after acquiring an additional 2,928 shares during the period. Thompson Davis & CO. Inc. increased its holdings in shares of Codexis by 1,753.5% in the 4th quarter. Thompson Davis & CO. Inc. now owns 18,535 shares of the biotechnology company’s stock valued at $155,000 after acquiring an additional 17,535 shares during the period. Burney Co. purchased a new position in shares of Codexis in the 4th quarter valued at $167,000. MetLife Investment Advisors LLC purchased a new position in shares of Codexis in the 4th quarter valued at $179,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Codexis by 30.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock valued at $192,000 after acquiring an additional 8,244 shares during the period. Institutional investors and hedge funds own 66.00% of the company’s stock.

Codexis (CDXS) opened at $9.35 on Monday. Codexis has a fifty-two week low of $3.60 and a fifty-two week high of $9.45. The stock has a market capitalization of $452.04, a price-to-earnings ratio of -14.38 and a beta of -1.61.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/19/codexis-inc-cdxs-expected-to-announce-quarterly-sales-of-22-96-million.html.

Codexis Company Profile

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.

Get a free copy of the Zacks research report on Codexis (CDXS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Codexis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Codexis and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply