First Analysis Comments on Codexis, Inc.’s FY2016 Earnings (CDXS)

First Analysis Comments on Codexis, Inc.’s FY2016 Earnings (CDXS)

Codexis, Inc. (NASDAQ:CDXS) – Investment analysts at First Analysis issued their FY2016 earnings per share (EPS) estimates for shares of Codexis in a report released on Thursday. First Analysis analyst S. Schwartz anticipates that the firm will post earnings per share of ($0.16) for the year. First Analysis has a “Equal Weight” rating and a $5.50 price objective on the stock. First Analysis also issued estimates for Codexis’ Q4 2016 earnings at ($0.07) EPS, Q1 2017 earnings at ($0.10) EPS, Q2 2017 earnings at ($0.12) EPS and Q3 2017 earnings at ($0.14) EPS.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.23. The business had revenue of $14.90 million for the quarter, compared to analysts’ expectations of $7.41 million. Codexis had a negative return on equity of 5.25% and a negative net margin of 10.60%. The firm’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.19 EPS.

Other research analysts have also recently issued research reports about the company. Ladenburg Thalmann Financial Services upgraded Codexis from a “neutral” rating to a “buy” rating and set a $6.25 price target for the company in a research note on Wednesday, January 4th. Zacks Investment Research raised Codexis from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a report on Tuesday, November 8th.

Shares of Codexis (NASDAQ:CDXS) opened at 4.85 on Monday. The stock’s market cap is $199.92 million. Codexis has a 12-month low of $2.93 and a 12-month high of $5.29. The firm has a 50 day moving average price of $4.83 and a 200 day moving average price of $4.51.

Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Codexis during the third quarter valued at approximately $115,000. Wells Fargo & Company MN raised its stake in shares of Codexis by 412.3% in the third quarter. Wells Fargo & Company MN now owns 26,279 shares of the company’s stock valued at $117,000 after buying an additional 21,149 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of Codexis during the second quarter valued at approximately $123,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Codexis during the third quarter valued at approximately $140,000. Finally, Alambic Investment Management L.P. purchased a new stake in shares of Codexis during the third quarter valued at approximately $177,000. 57.45% of the stock is owned by institutional investors.

In other news, Director Patrick Y. Yang acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was bought at an average price of $4.83 per share, with a total value of $48,300.00. Following the completion of the acquisition, the director now directly owns 320,340 shares of the company’s stock, valued at approximately $1,547,242.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.30% of the company’s stock.

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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