Codexis, Inc. (CDXS) Issues Quarterly Earnings Results

Codexis, Inc. (NASDAQ:CDXS) issued its quarterly earnings data on Tuesday. The biotechnology company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. The company had revenue of $7.97 million during the quarter, compared to the consensus estimate of $9.23 million. Codexis had a negative net margin of 10.60% and a negative return on equity of 5.25%. Codexis’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.11) EPS.

Earnings History for Codexis (NASDAQ:CDXS)

Several hedge funds have recently added to or reduced their stakes in CDXS. Tower Research Capital LLC TRC increased its stake in Codexis by 7,242.9% in the first quarter. Tower Research Capital LLC TRC now owns 22,249 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 21,946 shares during the period. Wells Fargo & Company MN increased its stake in Codexis by 412.3% in the third quarter. Wells Fargo & Company MN now owns 26,279 shares of the biotechnology company’s stock valued at $117,000 after buying an additional 21,149 shares during the last quarter. Bank of America Corp DE increased its stake in Codexis by 2.9% in the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 717 shares during the last quarter. Alambic Investment Management L.P. purchased a new stake in Codexis during the third quarter valued at $177,000. Finally, Teachers Advisors LLC increased its stake in Codexis by 10.0% in the fourth quarter. Teachers Advisors LLC now owns 58,017 shares of the biotechnology company’s stock valued at $267,000 after buying an additional 5,264 shares during the last quarter. Institutional investors and hedge funds own 57.65% of the company’s stock.

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Several brokerages recently commented on CDXS. First Analysis downgraded shares of Codexis from an “overweight” rating to an “equal weight” rating and set a $5.50 price objective for the company. in a research note on Thursday, January 26th. HC Wainwright set a $8.00 price objective on shares of Codexis and gave the company a “buy” rating in a research note on Thursday, May 11th. Finally, Zacks Investment Research upgraded shares of Codexis from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a research report on Tuesday, February 14th.

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.

12 Month Chart for NASDAQ:CDXS

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