Codexis (CDXS) Announces Earnings Results
Codexis (NASDAQ:CDXS) posted its quarterly earnings data 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. The company had revenue of $16.95 million for the quarter, compared to analyst estimates of $14.63 million. Codexis had a negative return on equity of 61.93% and a negative net margin of 29.83%. Codexis updated its FY 2018 guidance to EPS.
Shares of CDXS stock traded down $1.01 on Friday, reaching $15.71. 341,487 shares of the stock were exchanged, compared to its average volume of 301,554. The company has a market cap of $905.96 million, a P/E ratio of -31.42 and a beta of -1.60. Codexis has a one year low of $5.70 and a one year high of $19.60.
In related news, CFO Gordon Sangster sold 80,000 shares of the company’s stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $16.94, for a total value of $1,355,200.00. Following the completion of the sale, the chief financial officer now owns 174,453 shares in the company, valued at $2,955,233.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick Y. Yang sold 150,340 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $14.45, for a total value of $2,172,413.00. Following the completion of the sale, the director now owns 120,896 shares of the company’s stock, valued at approximately $1,746,947.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,329 shares of company stock valued at $8,354,797. 11.40% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently weighed in on the company. BidaskClub downgraded Codexis from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. Craig Hallum boosted their target price on Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Finally, Zacks Investment Research downgraded Codexis from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 15th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $16.40.
TRADEMARK VIOLATION NOTICE: “Codexis (CDXS) Announces Earnings Results” was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this news story on another website, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The legal version of this news story can be read at https://theolympiareport.com/2018/11/10/codexis-cdxs-announces-earnings-results.html.
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.
See Also: Benefits of owning preferred stock
Receive News & Ratings for Codexis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Codexis and related companies with MarketBeat.com's FREE daily email newsletter.