ChemoCentryx (CCXI) Rating Increased to Hold at BidaskClub

ChemoCentryx (NASDAQ:CCXI) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also commented on the stock. JPMorgan Chase reiterated an “overweight” rating and issued a $16.00 price objective (up previously from $13.00) on shares of ChemoCentryx in a report on Tuesday, March 13th. Zacks Investment Research upgraded shares of ChemoCentryx from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, March 14th. ValuEngine upgraded shares of ChemoCentryx from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. TheStreet upgraded shares of ChemoCentryx from a “d” rating to a “c+” rating in a report on Monday, April 16th. Finally, HC Wainwright initiated coverage on shares of ChemoCentryx in a report on Wednesday, May 2nd. They issued a “buy” rating and a $20.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. ChemoCentryx presently has a consensus rating of “Buy” and an average target price of $16.50.

Shares of ChemoCentryx opened at $12.47 on Wednesday, MarketBeat Ratings reports. ChemoCentryx has a 12 month low of $11.68 and a 12 month high of $12.10. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $614.38 million, a price-to-earnings ratio of 43.10 and a beta of 1.63.

ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings data on Wednesday, May 9th. The biopharmaceutical company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The firm had revenue of $9.55 million during the quarter, compared to analyst estimates of $9.10 million. sell-side analysts forecast that ChemoCentryx will post -1.02 EPS for the current fiscal year.

In other news, insider Markus J. Cappel sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $11.02, for a total value of $551,000.00. Following the sale, the insider now owns 35,737 shares in the company, valued at approximately $393,821.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas J. Schall sold 17,127 shares of the company’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $11.00, for a total transaction of $188,397.00. Following the completion of the sale, the chief executive officer now owns 2,202,121 shares in the company, valued at approximately $24,223,331. The disclosure for this sale can be found here. In the last 90 days, insiders sold 492,127 shares of company stock worth $5,679,367. Company insiders own 14.50% of the company’s stock.

Several institutional investors have recently modified their holdings of CCXI. Arrowstreet Capital Limited Partnership raised its stake in shares of ChemoCentryx by 44.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 26,016 shares of the biopharmaceutical company’s stock valued at $155,000 after purchasing an additional 8,017 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of ChemoCentryx in the 1st quarter valued at about $169,000. Barclays PLC raised its stake in shares of ChemoCentryx by 193.9% in the 1st quarter. Barclays PLC now owns 13,066 shares of the biopharmaceutical company’s stock valued at $178,000 after purchasing an additional 8,621 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of ChemoCentryx in the 1st quarter valued at about $196,000. Finally, Element Capital Management LLC acquired a new stake in shares of ChemoCentryx in the 1st quarter valued at about $197,000. Institutional investors and hedge funds own 47.58% of the company’s stock.

About ChemoCentryx

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).

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