Codexis (CDXS) Posts Earnings Results, Beats Expectations By $0.03 EPS

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Codexis (NASDAQ:CDXS) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03, Morningstar.com reports. Codexis had a negative net margin of 29.83% and a negative return on equity of 61.93%. The firm had revenue of $16.95 million during the quarter, compared to analyst estimates of $14.63 million. Codexis updated its FY 2018 guidance to EPS.

Shares of CDXS traded down $1.01 on Friday, reaching $15.71. The company’s stock had a trading volume of 341,487 shares, compared to its average volume of 301,554. The company has a market cap of $905.96 million, a price-to-earnings ratio of -31.42 and a beta of -1.60. Codexis has a 12-month low of $5.70 and a 12-month high of $19.60.

In related news, Director Thomas R. Baruch sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $18.54, for a total value of $463,500.00. Following the transaction, the director now owns 140,593 shares of the company’s stock, valued at $2,606,594.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James Lalonde sold 30,296 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $17.24, for a total transaction of $522,303.04. Following the completion of the transaction, the senior vice president now directly owns 177,151 shares in the company, valued at approximately $3,054,083.24. The disclosure for this sale can be found here. In the last three months, insiders sold 508,329 shares of company stock worth $8,354,797. 11.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CDXS. Campbell & CO Investment Adviser LLC purchased a new position in shares of Codexis in the second quarter worth approximately $146,000. GSA Capital Partners LLP purchased a new position in shares of Codexis in the second quarter worth approximately $243,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Codexis by 25.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 17,210 shares of the biotechnology company’s stock worth $248,000 after buying an additional 3,475 shares during the last quarter. Financial Architects Inc boosted its holdings in shares of Codexis by 36.3% in the third quarter. Financial Architects Inc now owns 15,130 shares of the biotechnology company’s stock worth $259,000 after buying an additional 4,027 shares during the last quarter. Finally, California Public Employees Retirement System purchased a new position in shares of Codexis in the second quarter worth approximately $261,000. 77.40% of the stock is currently owned by institutional investors.

CDXS has been the subject of a number of research analyst reports. BidaskClub lowered shares of Codexis from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Codexis from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, August 16th. Finally, Craig Hallum raised their price objective on shares of Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $16.40.

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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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