Codexis Forecasted to Post Q3 2018 Earnings of ($0.02) Per Share (CDXS)

Codexis (NASDAQ:CDXS) – First Analysis issued their Q3 2018 EPS estimates for Codexis in a report issued on Wednesday, April 4th. First Analysis analyst S. Schwartz anticipates that the biotechnology company will post earnings per share of ($0.02) for the quarter.

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Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, March 8th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). Codexis had a negative net margin of 45.97% and a negative return on equity of 103.42%. The firm had revenue of $21.70 million for the quarter, compared to the consensus estimate of $22.97 million. During the same quarter last year, the company posted ($0.07) earnings per share. Codexis’s revenue for the quarter was up 117.0% compared to the same quarter last year.

Several other equities analysts have also issued reports on the company. BidaskClub upgraded Codexis from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 3rd. Zacks Investment Research upgraded Codexis from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. HC Wainwright set a $12.00 price target on Codexis and gave the stock a “buy” rating in a research report on Monday, March 12th. Finally, ValuEngine upgraded Codexis from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $9.75.

CDXS opened at $10.40 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.80. Codexis has a 1 year low of $3.95 and a 1 year high of $13.60. The company has a market cap of $523.08, a P/E ratio of -20.80 and a beta of -1.73.

Several hedge funds have recently modified their holdings of CDXS. State Street Corp grew its position in shares of Codexis by 26.8% in the 2nd quarter. State Street Corp now owns 580,623 shares of the biotechnology company’s stock worth $3,168,000 after buying an additional 122,757 shares during the last quarter. The Manufacturers Life Insurance Company grew its position 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 worth $192,000 after buying an additional 8,244 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Codexis by 7.4% in the 2nd quarter. California State Teachers Retirement System now owns 72,298 shares of the biotechnology company’s stock worth $394,000 after buying an additional 5,000 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Codexis by 227.6% in the 3rd quarter. Wells Fargo & Company MN now owns 390,797 shares of the biotechnology company’s stock worth $2,599,000 after buying an additional 271,503 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in shares of Codexis in the 3rd quarter worth approximately $1,089,000. Hedge funds and other institutional investors own 70.84% of the company’s stock.

In related news, Director Bernard J. Kelley sold 10,206 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $12.22, for a total transaction of $124,717.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David V. Smith sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $10.37, for a total value of $62,220.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,337 shares of company stock worth $1,187,683. 9.80% of the stock is owned by corporate insiders.

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Codexis Company Profile

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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