Brokerages forecast that Codexis, Inc. (NASDAQ:CDXS) will report sales of $22.96 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Codexis’ earnings, with the highest sales estimate coming in at $24.09 million and the lowest estimate coming in at $22.10 million. Codexis reported sales of $9.97 million during the same quarter last year, which indicates a positive year-over-year growth rate of 130.3%. The business is scheduled to report its next earnings results on Thursday, March 8th.

According to Zacks, analysts expect that Codexis will report full year sales of $22.96 million for the current financial year, with estimates ranging from $50.40 million to $52.39 million. For the next year, analysts expect that the business will report sales of $68.57 million per share, with estimates ranging from $62.42 million to $77.28 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Codexis.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.21) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.05). Codexis had a negative net margin of 76.37% and a negative return on equity of 140.02%.

Several research firms have recently commented on CDXS. Zacks Investment Research raised shares of Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. HC Wainwright reiterated a “buy” rating and issued a $8.50 target price on shares of Codexis in a report on Tuesday, November 21st. BidaskClub upgraded shares of Codexis from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Finally, Jefferies Group reissued a “buy” rating and set a $9.00 price objective (up previously from $8.00) on shares of Codexis in a research report on Monday, October 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $7.81.

Codexis (NASDAQ:CDXS) traded down $0.05 during midday trading on Tuesday, reaching $9.00. 256,700 shares of the company were exchanged, compared to its average volume of 340,944. The company has a market capitalization of $435.12, a PE ratio of -13.85 and a beta of -1.59. Codexis has a twelve month low of $3.60 and a twelve month high of $9.45.

Several large investors have recently modified their holdings of the company. Nationwide Fund Advisors grew its holdings in shares of Codexis by 15.7% during the 2nd 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 last quarter. The Manufacturers Life Insurance Company grew its holdings in Codexis by 30.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 8,244 shares during the last quarter. Rhumbline Advisers grew its holdings in Codexis by 23.3% during the 2nd quarter. Rhumbline Advisers now owns 42,872 shares of the biotechnology company’s stock worth $234,000 after acquiring an additional 8,095 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Codexis by 16.5% in the 2nd quarter. Teachers Advisors LLC now owns 67,569 shares of the biotechnology company’s stock worth $368,000 after purchasing an additional 9,552 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of Codexis by 7.4% in the 2nd quarter. California State Teachers Retirement System now owns 72,298 shares of the biotechnology company’s stock worth $394,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 65.71% of the company’s stock.

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About Codexis

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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