Codexis (CDXS) Set to Announce Earnings on Thursday

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Codexis (NASDAQ:CDXS) will release its earnings data 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 posted its earnings results on Wednesday, August 8th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. Codexis had a negative return on equity of 61.93% and a negative net margin of 29.83%. The company had revenue of $13.54 million during the quarter, compared to the consensus estimate of $11.87 million. On average, analysts expect Codexis to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

CDXS opened at $15.92 on Wednesday. Codexis has a fifty-two week low of $5.70 and a fifty-two week high of $19.60.

A number of research firms have recently weighed in on CDXS. BidaskClub raised Codexis from a “hold” rating to a “buy” rating in a report on Friday, November 2nd. Zacks Investment Research downgraded Codexis from a “strong-buy” rating to a “hold” rating in a report on Monday, October 15th. Finally, Craig Hallum lifted their target price on Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. One 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’s stock. The company has a consensus rating of “Buy” and an average target price of $16.40.

In related news, Director Patrick Y. Yang sold 150,340 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $14.45, for a total value of $2,172,413.00. Following the completion of the transaction, the director now owns 120,896 shares of the company’s stock, valued at $1,746,947.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Gordon Sangster sold 80,000 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $16.94, for a total value of $1,355,200.00. Following the completion of the transaction, the chief financial officer now directly owns 174,453 shares of the company’s stock, valued at approximately $2,955,233.82. The disclosure for this sale can be found here. Insiders have sold 508,329 shares of company stock valued at $8,354,797 in the last three months. Insiders own 11.40% of the company’s stock.

An institutional investor recently raised its position in Codexis stock. Bank of New York Mellon Corp boosted its stake in Codexis, Inc. (NASDAQ:CDXS) by 17.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,032 shares of the biotechnology company’s stock after purchasing an additional 30,124 shares during the quarter. Bank of New York Mellon Corp owned about 0.38% of Codexis worth $2,939,000 at the end of the most recent reporting period. 77.40% of the stock is owned by hedge funds and other institutional investors.

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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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Earnings History for Codexis (NASDAQ:CDXS)

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