Codexis (NASDAQ:CDXS) Releases Earnings Results, Misses Expectations By $0.04 EPS

Codexis (NASDAQ:CDXS) posted its quarterly earnings results on Tuesday. The biotechnology company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.04), Morningstar.com reports. The company had revenue of $12.32 million during the quarter, compared to the consensus estimate of $14.90 million. Codexis had a negative return on equity of 21.08% and a negative net margin of 18.22%.

CDXS traded down $2.73 during trading on Wednesday, hitting $14.26. The stock had a trading volume of 1,567,799 shares, compared to its average volume of 389,143. The stock has a 50 day simple moving average of $18.55. The company has a market capitalization of $926.64 million, a price-to-earnings ratio of -67.90 and a beta of -0.05. Codexis has a one year low of $12.85 and a one year high of $23.05. The company has a current ratio of 3.42, a quick ratio of 3.38 and a debt-to-equity ratio of 0.51.

In related news, SVP James Lalonde sold 19,999 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $18.65, for a total value of $372,981.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Aperio Group LLC bought a new stake in shares of Codexis during the 2nd quarter valued at $98,000. Legal & General Group Plc lifted its position in shares of Codexis by 12.1% during the 4th quarter. Legal & General Group Plc now owns 9,379 shares of the biotechnology company’s stock valued at $157,000 after acquiring an additional 1,010 shares during the period. SG Americas Securities LLC bought a new stake in shares of Codexis during the 2nd quarter valued at $190,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Codexis by 13.3% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,093 shares of the biotechnology company’s stock valued at $207,000 after acquiring an additional 1,186 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Codexis by 67,343.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,791 shares of the biotechnology company’s stock valued at $222,000 after acquiring an additional 10,775 shares during the period. Hedge funds and other institutional investors own 86.84% of the company’s stock.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Codexis from a “hold” rating to a “sell” rating in a report on Friday, May 10th. BidaskClub lowered Codexis from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $21.58.

About Codexis

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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