Brokerages expect that Codexis, Inc. (NASDAQ:CDXS) will post earnings of $0.06 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Codexis’ earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.03. Codexis reported earnings of ($0.13) per share during the same quarter last year, which indicates a positive year over year growth rate of 146.2%. The company is scheduled to issue its next quarterly earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Codexis will report full-year earnings of ($0.46) per share for the current financial year, with EPS estimates ranging from ($0.48) to ($0.43). For the next year, analysts expect that the firm will report earnings of ($0.14) per share, with EPS estimates ranging from ($0.31) to ($0.01). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Codexis.
Several equities research analysts have recently commented on the stock. Jefferies Group restated a “buy” rating and issued a $9.00 price target (up previously from $8.00) on shares of Codexis in a report on Monday, October 2nd. HC Wainwright boosted their price target on shares of Codexis from $8.00 to $8.50 and gave the company a “buy” rating in a report on Friday, October 13th. Zacks Investment Research lowered shares of Codexis from a “hold” rating to a “sell” rating in a report on Monday, September 4th. ValuEngine upgraded shares of Codexis from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded shares of Codexis from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $7.50.
A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in Codexis by 2.9% during the 1st quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock worth $122,000 after purchasing an additional 717 shares during the last quarter. Nationwide Fund Advisors grew its position in Codexis by 15.7% during the 2nd quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 2,928 shares during the last quarter. California State Teachers Retirement System grew its position in Codexis by 7.4% during the 2nd quarter. California State Teachers Retirement System now owns 72,298 shares of the biotechnology company’s stock worth $394,000 after purchasing an additional 5,000 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Codexis by 7.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 109,557 shares of the biotechnology company’s stock worth $597,000 after purchasing an additional 7,263 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Codexis by 23.3% in the 2nd quarter. Rhumbline Advisers now owns 42,872 shares of the biotechnology company’s stock valued at $234,000 after acquiring an additional 8,095 shares during the last quarter. 65.71% of the stock is currently owned by institutional investors.
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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.
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