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Codexis (CDXS) Surges 9.7%: Is This an Indication of Further Gains?
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Codexis (CDXS - Free Report) shares ended the last trading session 9.7% higher at $11.44. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.3% gain over the past four weeks.
Investors are mostly likely optimistic about the company’s upbeat performance so far in the year. The company supports the manufacture of Paxlovid, Pfizer’s COVID-19 therapeutic. Momentum is also building up in other growth areas of the company. Shares have most likely surged on investor optimism.
This producer of custom industrial enzymes is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of -71.4%. Revenues are expected to be $40 million, up 57.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Codexis, the consensus EPS estimate for the quarter has been revised 4.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CDXS going forward to see if this recent jump can turn into more strength down the road.
Codexis belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, BeyondSpring Inc. (BYSI - Free Report) , closed the last trading session 10.3% lower at $1.39. Over the past month, BYSI has returned 37.2%.
For BeyondSpring Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.23. This represents a change of +47.7% from what the company reported a year ago. BeyondSpring Inc. currently has a Zacks Rank of #3 (Hold).
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Codexis (CDXS) Surges 9.7%: Is This an Indication of Further Gains?
Codexis (CDXS - Free Report) shares ended the last trading session 9.7% higher at $11.44. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.3% gain over the past four weeks.
Investors are mostly likely optimistic about the company’s upbeat performance so far in the year. The company supports the manufacture of Paxlovid, Pfizer’s COVID-19 therapeutic. Momentum is also building up in other growth areas of the company. Shares have most likely surged on investor optimism.
This producer of custom industrial enzymes is expected to post quarterly loss of $0.12 per share in its upcoming report, which represents a year-over-year change of -71.4%. Revenues are expected to be $40 million, up 57.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Codexis, the consensus EPS estimate for the quarter has been revised 4.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CDXS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Codexis belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, BeyondSpring Inc. (BYSI - Free Report) , closed the last trading session 10.3% lower at $1.39. Over the past month, BYSI has returned 37.2%.
For BeyondSpring Inc., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.23. This represents a change of +47.7% from what the company reported a year ago. BeyondSpring Inc. currently has a Zacks Rank of #3 (Hold).