Equities research analysts forecast that Codexis, Inc. (NASDAQ:CDXS) will post $13.50 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Codexis’ earnings. The highest sales estimate is $14.70 million and the lowest is $11.30 million. Codexis posted sales of $7.97 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 69.4%. The company is scheduled to issue its next quarterly earnings results on Tuesday, May 8th.
On average, analysts expect that Codexis will report full-year sales of $13.50 million for the current year, with estimates ranging from $62.00 million to $66.60 million. For the next year, analysts expect that the company will post sales of $83.18 million per share, with estimates ranging from $76.00 million to $89.27 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Codexis.
Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, March 8th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). Codexis had a negative net margin of 45.97% and a negative return on equity of 103.42%. The company had revenue of $21.70 million for the quarter, compared to analysts’ expectations of $22.97 million. During the same period in the prior year, the company earned ($0.07) earnings per share. The company’s revenue for the quarter was up 117.0% on a year-over-year basis.
In related news, Director Bernard J. Kelley sold 10,206 shares of the stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $12.22, for a total value of $124,717.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Nicols sold 22,465 shares of the stock in a transaction dated Friday, March 23rd. The stock was sold at an average price of $11.57, for a total value of $259,920.05. Following the completion of the sale, the insider now directly owns 1,078,990 shares of the company’s stock, valued at $12,483,914.30. The disclosure for this sale can be found here. 9.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Telemark Asset Management LLC raised its stake in shares of Codexis by 58.5% during the 4th quarter. Telemark Asset Management LLC now owns 3,250,000 shares of the biotechnology company’s stock worth $27,138,000 after purchasing an additional 1,200,000 shares in the last quarter. BlackRock Inc. raised its stake in shares of Codexis by 0.7% during the 4th quarter. BlackRock Inc. now owns 2,672,981 shares of the biotechnology company’s stock worth $22,320,000 after purchasing an additional 18,193 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its stake in shares of Codexis by 4.2% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 2,133,568 shares of the biotechnology company’s stock worth $17,815,000 after purchasing an additional 86,356 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Codexis by 156.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,002,086 shares of the biotechnology company’s stock worth $8,367,000 after purchasing an additional 611,289 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Codexis by 26.8% during the 2nd quarter. State Street Corp now owns 580,623 shares of the biotechnology company’s stock worth $3,168,000 after purchasing an additional 122,757 shares in the last quarter. 70.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Codexis stock opened at $11.00 on Friday. Codexis has a fifty-two week low of $3.95 and a fifty-two week high of $13.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.76 and a current ratio of 1.80.
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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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