Codexis (CDXS) Scheduled to Post Earnings on Thursday

Posted by on Oct 26th, 2023

Codexis (NASDAQ:CDXS – Get Free Report) is scheduled to release its earnings data after the market closes on Thursday, November 2nd. Analysts expect Codexis to post earnings of ($0.32) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Codexis (NASDAQ:CDXS – Get Free Report) last announced its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.04. Codexis had a negative net margin of 57.22% and a negative return on equity of 41.33%. The business had revenue of $21.32 million during the quarter, compared to analysts’ expectations of $19.83 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue was down 44.5% on a year-over-year basis. On average, analysts expect Codexis to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Codexis Trading Down 2.4 %

Shares of CDXS opened at $1.66 on Thursday. Codexis has a 12 month low of $1.45 and a 12 month high of $6.98. The firm has a fifty day simple moving average of $1.80 and a 200 day simple moving average of $2.63. The stock has a market capitalization of $115.87 million, a price-to-earnings ratio of -1.95 and a beta of 1.72.

Institutional Trading of Codexis

A number of hedge funds have recently modified their holdings of CDXS. JPMorgan Chase & Co. lifted its stake in shares of Codexis by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 52,116 shares of the biotechnology company’s stock worth $1,075,000 after buying an additional 8,870 shares during the last quarter. Bank of New York Mellon Corp increased its position in Codexis by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 220,879 shares of the biotechnology company’s stock worth $4,554,000 after acquiring an additional 1,618 shares during the period. US Bancorp DE increased its position in Codexis by 517.5% during the first quarter. US Bancorp DE now owns 8,380 shares of the biotechnology company’s stock worth $172,000 after acquiring an additional 7,023 shares during the period. MetLife Investment Management LLC increased its position in Codexis by 55.6% during the first quarter. MetLife Investment Management LLC now owns 32,963 shares of the biotechnology company’s stock worth $680,000 after acquiring an additional 11,784 shares during the period. Finally, BlackRock Inc. increased its position in Codexis by 0.7% during the first quarter. BlackRock Inc. now owns 5,183,443 shares of the biotechnology company’s stock worth $106,885,000 after acquiring an additional 38,494 shares during the period. Institutional investors and hedge funds own 87.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CDXS. Stifel Nicolaus reduced their target price on shares of Codexis from $9.00 to $5.00 and set a “buy” rating for the company in a report on Monday, August 14th. StockNews.com upgraded shares of Codexis from a “sell” rating to a “hold” rating in a research note on Thursday, October 19th. Stephens reiterated an “overweight” rating and issued a $6.00 price target on shares of Codexis in a research note on Friday, July 21st. Benchmark reiterated a “buy” rating and issued a $9.00 price target on shares of Codexis in a research note on Friday, September 1st. Finally, TD Cowen cut shares of Codexis from an “outperform” rating to a “market perform” rating and cut their price target for the company from $21.00 to $4.00 in a research note on Monday, August 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.83.

Read Our Latest Stock Analysis on CDXS

About Codexis

(Get Free Report)

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.

Further Reading

Earnings History for Codexis (NASDAQ:CDXS)

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