Codexis (NASDAQ:CDXS) Issues Quarterly Earnings Results

Codexis (NASDAQ:CDXS) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02, FiscalAI reports. Codexis had a negative return on equity of 74.36% and a negative net margin of 39.55%. The business had revenue of $19.26 million during the quarter, compared to the consensus estimate of $18.72 million.

Codexis Price Performance

Shares of Codexis stock traded down $0.02 during trading hours on Thursday, reaching $0.96. The company’s stock had a trading volume of 1,000,234 shares, compared to its average volume of 1,388,659. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.06 and a quick ratio of 2.99. Codexis has a one year low of $0.90 and a one year high of $2.98. The firm has a 50 day moving average price of $1.31 and a 200-day moving average price of $1.78. The stock has a market cap of $104.92 million, a P/E ratio of -2.82 and a beta of 2.38.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Piper Sandler reduced their price objective on shares of Codexis from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Wall Street Zen lowered shares of Codexis from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 23rd. Finally, Benchmark reiterated a “hold” rating on shares of Codexis in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.50.

About Codexis

Codexis, Inc. is a biotechnology company that develops enzymes and other biocatalytic technologies for use in pharmaceutical and biomanufacturing applications. Its proprietary CodeEvolver protein-engineering platform is designed to improve the performance of naturally occurring enzymes, including their activity, selectivity, stability and production characteristics. The company works with pharmaceutical and biotechnology companies to develop biocatalysts used in the manufacture of active pharmaceutical ingredients, intermediates and other complex molecules.