Codexis, Inc. (NASDAQ:CDXS) – Stock analysts at Jefferies Group dropped their Q4 2017 earnings per share (EPS) estimates for Codexis in a note issued to investors on Friday. Jefferies Group analyst B. Couillard now forecasts that the biotechnology company will post earnings of $0.04 per share for the quarter, down from their prior forecast of $0.07. Jefferies Group has a “Buy” rating and a $11.00 price target on the stock.
A number of other equities analysts have also commented on CDXS. HC Wainwright increased their price target on Codexis from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research raised Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. ValuEngine raised Codexis from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub raised Codexis from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.50.
Codexis (NASDAQ CDXS) traded up 0.340% during midday trading on Monday, hitting $7.375. The stock had a trading volume of 18,337 shares. Codexis has a 52 week low of $3.60 and a 52 week high of $7.95. The stock’s market cap is $356.39 million. The company has a 50-day moving average price of $6.17 and a 200-day moving average price of $5.20.
Codexis (NASDAQ:CDXS) last posted its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.13). Codexis had a negative return on equity of 83.39% and a negative net margin of 40.70%. The company had revenue of $10.30 million during the quarter, compared to the consensus estimate of $9.61 million. During the same quarter last year, the firm earned $0.12 earnings per share. The company’s revenue was down 35.6% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its position in Codexis by 2.9% during the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 717 shares during the period. TIAA CREF Investment Management LLC raised its position in Codexis by 1.1% during the first quarter. TIAA CREF Investment Management LLC now owns 102,294 shares of the biotechnology company’s stock valued at $491,000 after purchasing an additional 1,099 shares during the period. Nationwide Fund Advisors raised its position in Codexis by 15.7% during the second quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 2,928 shares during the period. California State Teachers Retirement System raised its position in Codexis by 7.4% during the second quarter. California State Teachers Retirement System now owns 72,298 shares of the biotechnology company’s stock valued at $394,000 after purchasing an additional 5,000 shares during the period. Finally, Teachers Advisors LLC raised its position in Codexis by 10.0% during the fourth quarter. Teachers Advisors LLC now owns 58,017 shares of the biotechnology company’s stock valued at $267,000 after purchasing an additional 5,264 shares during the period. Institutional investors and hedge funds own 63.62% of the company’s stock.
In related news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $5.78, for a total transaction of $6,126,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.80% of the stock is currently owned by corporate insiders.
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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