Codexis (NASDAQ:CDXS) will post its quarterly earnings results after the market closes on Thursday, November 8th. Analysts expect Codexis to post earnings of ($0.07) per share for the quarter.
Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. The company had revenue of $13.54 million for the quarter, compared to analyst estimates of $11.87 million. Codexis had a negative return on equity of 61.93% and a negative net margin of 29.83%. On average, analysts expect Codexis to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Shares of NASDAQ CDXS traded down $0.03 during mid-day trading on Tuesday, reaching $15.92. 289 shares of the company’s stock were exchanged, compared to its average volume of 345,894. The firm has a market cap of $861.01 million, a P/E ratio of -32.26 and a beta of -1.60. Codexis has a twelve month low of $5.70 and a twelve month high of $19.60.
In other news, Director Thomas R. Baruch sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $18.54, for a total transaction of $463,500.00. Following the sale, the director now owns 140,593 shares of the company’s stock, valued at $2,606,594.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Gordon Sangster sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $16.94, for a total value of $1,355,200.00. Following the sale, the chief financial officer now directly owns 174,453 shares in the company, valued at approximately $2,955,233.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 508,329 shares of company stock worth $8,354,797. 11.40% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Codexis stock. Bank of New York Mellon Corp boosted its position in Codexis, Inc. (NASDAQ:CDXS) by 17.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,032 shares of the biotechnology company’s stock after buying an additional 30,124 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.38% of Codexis worth $2,939,000 as of its most recent filing with the SEC. 77.40% of the stock is currently owned by institutional investors.
CDXS has been the topic of a number of research analyst reports. Zacks Investment Research raised Codexis from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, August 16th. BidaskClub lowered Codexis from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. Finally, Craig Hallum raised their price target on Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, September 5th. One equities 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. The company currently has an average rating of “Buy” and a consensus target price 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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