FY2024 EPS Estimates for Codexis, Inc. (NASDAQ:CDXS) Decreased by Analyst

Codexis, Inc. (NASDAQ:CDXS) – Investment analysts at Cantor Fitzgerald reduced their FY2024 EPS estimates for shares of Codexis in a research report issued to clients and investors on Thursday, August 22nd. Cantor Fitzgerald analyst K. Kluska now anticipates that the biotechnology company will post earnings per share of ($0.74) for the year, down from their previous estimate of ($0.71). Cantor Fitzgerald currently has a “Overweight” rating and a $11.00 price target on the stock. The consensus estimate for Codexis’ current full-year earnings is ($0.63) per share.

Other analysts also recently issued research reports about the company. Benchmark downgraded Codexis from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Jefferies Financial Group began coverage on shares of Codexis in a research note on Monday, June 3rd. They issued a “buy” rating and a $5.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.75.

Codexis Trading Up 5.2 %

Shares of CDXS stock opened at $3.05 on Monday. The business has a 50-day moving average of $3.14 and a 200 day moving average of $3.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.71 and a quick ratio of 3.63. Codexis has a 1-year low of $1.45 and a 1-year high of $4.91. The stock has a market capitalization of $215.20 million, a PE ratio of -3.28 and a beta of 2.12.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The company had revenue of $7.98 million for the quarter, compared to the consensus estimate of $7.64 million. Codexis had a negative net margin of 87.73% and a negative return on equity of 41.76%. During the same period last year, the business posted ($0.17) earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CDXS. Opaleye Management Inc. increased its stake in shares of Codexis by 172.2% during the fourth quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock valued at $9,289,000 after buying an additional 1,926,625 shares during the period. Kent Lake Capital LLC purchased a new position in Codexis during the 1st quarter valued at $2,197,000. GSA Capital Partners LLP raised its holdings in Codexis by 101.2% in the 4th quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock worth $2,553,000 after purchasing an additional 420,977 shares in the last quarter. Platinum Investment Management Ltd. purchased a new stake in shares of Codexis in the 1st quarter worth about $802,000. Finally, abrdn plc bought a new stake in shares of Codexis during the 4th quarter valued at about $490,000. Institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.