Zacks: Brokerages Anticipate Codexis, Inc. (NASDAQ:CDXS) Will Announce Quarterly Sales of $15.75 Million

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Equities research analysts predict that Codexis, Inc. (NASDAQ:CDXS) will announce sales of $15.75 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Codexis’ earnings. The lowest sales estimate is $14.00 million and the highest is $17.49 million. Codexis posted sales of $13.54 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, August 14th.

On average, analysts expect that Codexis will report full-year sales of $70.65 million for the current fiscal year, with estimates ranging from $69.14 million to $71.50 million. For the next financial year, analysts forecast that the business will post sales of $89.42 million, with estimates ranging from $84.90 million to $97.56 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Codexis.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Monday, May 6th. The biotechnology company reported ($0.09) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.09). Codexis had a negative net margin of 18.22% and a negative return on equity of 21.08%. The firm had revenue of $15.58 million during the quarter, compared to analysts’ expectations of $14.83 million.

CDXS has been the subject of a number of research analyst reports. BidaskClub raised shares of Codexis from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. HC Wainwright lifted their price objective on shares of Codexis to $22.50 and gave the stock a “buy” rating in a research report on Monday, March 4th. Craig Hallum lifted their price objective on shares of Codexis from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, February 27th. Zacks Investment Research cut shares of Codexis from a “hold” rating to a “sell” rating in a research report on Friday, May 10th. Finally, ValuEngine raised shares of Codexis from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the stock. Codexis has a consensus rating of “Buy” and a consensus target price of $21.07.

CDXS stock traded up $0.44 during midday trading on Wednesday, reaching $17.62. 193,897 shares of the company were exchanged, compared to its average volume of 388,341. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.42 and a quick ratio of 3.38. Codexis has a one year low of $12.85 and a one year high of $23.05. The stock has a market cap of $941.92 million, a price-to-earnings ratio of -83.90 and a beta of -0.15.

In other news, SVP James Lalonde sold 19,999 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $18.65, for a total value of $372,981.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John J. Nicols sold 55,072 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $20.83, for a total transaction of $1,147,149.76. Following the completion of the sale, the insider now directly owns 1,087,751 shares of the company’s stock, valued at approximately $22,657,853.33. The disclosure for this sale can be found here. In the last three months, insiders sold 155,071 shares of company stock valued at $3,190,531. 10.70% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in CDXS. Quantamental Technologies LLC bought a new stake in shares of Codexis in the fourth quarter valued at about $26,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Codexis by 152.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,837 shares of the biotechnology company’s stock valued at $47,000 after acquiring an additional 1,711 shares during the period. NumerixS Investment Technologies Inc bought a new stake in shares of Codexis in the first quarter valued at about $66,000. Advisor Group Inc. boosted its position in shares of Codexis by 184.2% in the first quarter. Advisor Group Inc. now owns 3,342 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 2,166 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Codexis by 236.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,375 shares of the biotechnology company’s stock valued at $91,000 after acquiring an additional 3,075 shares during the period. 85.51% of the stock is owned by institutional investors.

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.

Further Reading: Overbought

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