Analysts expect Codexis, Inc. (NASDAQ:CDXS) to post $12.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Codexis’ earnings, with the highest sales estimate coming in at $14.80 million and the lowest estimate coming in at $9.40 million. Codexis reported sales of $10.35 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.9%. The company is expected to issue its next earnings results on Wednesday, August 8th.
On average, analysts expect that Codexis will report full-year sales of $62.55 million for the current year, with estimates ranging from $62.00 million to $63.10 million. For the next fiscal year, analysts anticipate that the firm will post sales of $83.15 million per share, with estimates ranging from $76.00 million to $90.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Codexis.
Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Thursday, May 10th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). The business had revenue of $14.04 million for the quarter, compared to the consensus estimate of $13.50 million. Codexis had a negative net margin of 36.06% and a negative return on equity of 87.65%.
Several research firms recently issued reports on CDXS. BidaskClub lowered Codexis from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 13th. Zacks Investment Research lowered Codexis from a “buy” rating to a “sell” rating in a research note on Wednesday, May 16th. Stephens began coverage on Codexis in a research note on Wednesday, May 16th. They set an “overweight” rating and a $16.00 price objective for the company. ValuEngine raised Codexis from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, HC Wainwright set a $12.00 price objective on Codexis and gave the company a “buy” rating in a research note on Monday, March 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $13.25.
In other Codexis news, Director Thomas R. Baruch sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $11.05, for a total transaction of $276,250.00. Following the sale, the director now owns 184,670 shares in the company, valued at $2,040,603.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James Lalonde sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $13.09, for a total value of $130,900.00. Following the sale, the senior vice president now owns 220,066 shares in the company, valued at approximately $2,880,663.94. The disclosure for this sale can be found here. Insiders have sold 222,842 shares of company stock worth $2,813,091 in the last 90 days. Company insiders own 11.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. White Pine Capital LLC raised its position in Codexis by 16.4% during the fourth quarter. White Pine Capital LLC now owns 56,040 shares of the biotechnology company’s stock valued at $468,000 after purchasing an additional 7,900 shares in the last quarter. Bank of New York Mellon Corp raised its position in Codexis by 6.7% during the fourth quarter. Bank of New York Mellon Corp now owns 161,350 shares of the biotechnology company’s stock valued at $1,347,000 after purchasing an additional 10,079 shares in the last quarter. New York State Common Retirement Fund raised its position in Codexis by 30.5% during the first quarter. New York State Common Retirement Fund now owns 44,900 shares of the biotechnology company’s stock valued at $494,000 after purchasing an additional 10,500 shares in the last quarter. Marco Investment Management LLC purchased a new stake in Codexis during the first quarter valued at about $132,000. Finally, Citadel Advisors LLC purchased a new stake in Codexis during the first quarter valued at about $138,000. Institutional investors and hedge funds own 65.89% of the company’s stock.
NASDAQ:CDXS opened at $15.45 on Tuesday. The firm has a market cap of $814.58 million, a P/E ratio of -30.90 and a beta of -1.63. Codexis has a 52-week low of $4.60 and a 52-week high of $15.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.67 and a quick ratio of 1.61.
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.