ChemoCentryx (NASDAQ:CCXI) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Thursday.
Other analysts also recently issued reports about the company. ValuEngine upgraded ChemoCentryx from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Canaccord Genuity restated a “buy” rating and issued a $18.00 price objective on shares of ChemoCentryx in a report on Friday, August 10th. Cowen restated a “hold” rating on shares of ChemoCentryx in a report on Thursday, May 10th. HC Wainwright began coverage on ChemoCentryx in a report on Wednesday, May 2nd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Zacks Investment Research cut shares of ChemoCentryx from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 16th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.40.
NASDAQ CCXI opened at $12.76 on Thursday. The firm has a market capitalization of $564.24 million, a P/E ratio of 35.44 and a beta of 1.67. ChemoCentryx has a twelve month low of $5.42 and a twelve month high of $15.08. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 2.69.
ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. The business had revenue of $15.02 million during the quarter, compared to the consensus estimate of $16.88 million. ChemoCentryx had a return on equity of 39.31% and a net margin of 18.69%. sell-side analysts anticipate that ChemoCentryx will post -0.86 EPS for the current fiscal year.
In other ChemoCentryx news, CFO Susan M. Kanaya sold 49,507 shares of the company’s stock in a transaction on Thursday, June 28th. The shares were sold at an average price of $13.79, for a total transaction of $682,701.53. Following the sale, the chief financial officer now owns 38,985 shares of the company’s stock, valued at $537,603.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Markus J. Cappel sold 25,179 shares of the company’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $13.67, for a total transaction of $344,196.93. Following the sale, the insider now directly owns 24,626 shares in the company, valued at approximately $336,637.42. The disclosure for this sale can be found here. Insiders have sold 76,436 shares of company stock worth $1,050,371 in the last ninety days. Insiders own 14.50% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio boosted its position in ChemoCentryx by 8.5% during the second quarter. Strs Ohio now owns 60,200 shares of the biopharmaceutical company’s stock valued at $792,000 after acquiring an additional 4,700 shares during the last quarter. Trexquant Investment LP boosted its position in shares of ChemoCentryx by 47.4% during the 2nd quarter. Trexquant Investment LP now owns 17,056 shares of the biopharmaceutical company’s stock worth $225,000 after purchasing an additional 5,482 shares in the last quarter. Sei Investments Co. boosted its position in shares of ChemoCentryx by 203.5% during the 2nd quarter. Sei Investments Co. now owns 8,549 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 5,732 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of ChemoCentryx by 14.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 49,177 shares of the biopharmaceutical company’s stock worth $648,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of ChemoCentryx by 193.9% during the 1st quarter. Barclays PLC now owns 13,066 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 8,621 shares in the last quarter. 54.43% of the stock is currently owned by institutional investors and hedge funds.
ChemoCentryx Company Profile
ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, develops new medications for inflammatory and autoimmune diseases, and cancer in the United States. The company targets the chemokine and chemoattractant systems to discover, develop, and commercialize orally-administered therapies. Its lead drug candidate is Avacopan, an orally-administered complement inhibitor of the complement C5a receptor (C5aR), is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-associated vasculitis (AAV).
Further Reading: Earnings Per Share
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