Analysts Anticipate Codexis, Inc. (CDXS) Will Post Quarterly Sales of $10.04 Million
Wall Street brokerages expect Codexis, Inc. (NASDAQ:CDXS) to report sales of $10.04 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Codexis’ earnings, with the lowest sales estimate coming in at $9.20 million and the highest estimate coming in at $10.90 million. Codexis posted sales of $16.00 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 37.3%. The firm is expected to issue its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Codexis will report full-year sales of $10.04 million for the current fiscal year, with estimates ranging from $50.30 million to $51.50 million. For the next year, analysts forecast that the business will post sales of $64.79 million per share, with estimates ranging from $59.60 million to $68.78 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Codexis.
Codexis (NASDAQ:CDXS) last released its earnings results on Tuesday, May 9th. The biotechnology company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. Codexis had a negative return on equity of 49.35% and a negative net margin of 18.53%. The business had revenue of $7.97 million during the quarter, compared to the consensus estimate of $9.23 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year.
A number of brokerages have issued reports on CDXS. Jefferies Group LLC began coverage on shares of Codexis in a report on Wednesday, May 31st. They issued a “buy” rating and a $8.00 target price for the company. Zacks Investment Research cut shares of Codexis from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. Finally, HC Wainwright set a $8.00 target price on shares of Codexis and gave the company a “buy” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.50.
Shares of Codexis (NASDAQ:CDXS) opened at 4.80 on Friday. Codexis has a 12-month low of $3.60 and a 12-month high of $5.28. The company’s market capitalization is $231.21 million. The company has a 50 day moving average of $4.54 and a 200-day moving average of $4.57.
Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its stake in Codexis by 7,242.9% in the first quarter. Tower Research Capital LLC TRC now owns 22,249 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 21,946 shares in the last quarter. Bank of America Corp DE raised its stake in Codexis by 2.9% in the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 717 shares in the last quarter. Teachers Advisors LLC raised its stake in Codexis by 10.0% in the fourth quarter. Teachers Advisors LLC now owns 58,017 shares of the biotechnology company’s stock valued at $267,000 after buying an additional 5,264 shares in the last quarter. Wells Fargo & Company MN raised its stake in Codexis by 24.4% in the first quarter. Wells Fargo & Company MN now owns 58,694 shares of the biotechnology company’s stock valued at $282,000 after buying an additional 11,500 shares in the last quarter. Finally, Comprehensive Portfolio Management LLC acquired a new stake in Codexis during the fourth quarter valued at approximately $336,000. Institutional investors and hedge funds own 51.27% of the company’s stock.
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.
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