ChemoCentryx (NASDAQ:CCXI) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.03, Fidelity Earnings reports. ChemoCentryx had a return on equity of 39.31% and a net margin of 18.69%. The business had revenue of $8.98 million during the quarter, compared to analysts’ expectations of $11.55 million.
Shares of NASDAQ:CCXI traded down $1.65 during trading on Friday, reaching $10.05. 340,471 shares of the stock were exchanged, compared to its average volume of 164,306. The stock has a market capitalization of $603.72 million, a P/E ratio of 27.92 and a beta of 1.78. ChemoCentryx has a 12-month low of $5.42 and a 12-month high of $15.08. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.69 and a current ratio of 2.69.
A number of brokerages have recently issued reports on CCXI. BidaskClub upgraded ChemoCentryx from a “hold” rating to a “buy” rating in a report on Tuesday, September 25th. Zacks Investment Research cut ChemoCentryx from a “strong-buy” rating to a “hold” rating in a report on Monday, July 16th. JPMorgan Chase & Co. cut ChemoCentryx from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $14.00 to $15.00 in a report on Tuesday, August 14th. B. Riley began coverage on ChemoCentryx in a report on Friday, September 7th. They set a “neutral” rating and a $12.50 target price for the company. Finally, Canaccord Genuity reiterated a “buy” rating and set a $18.00 target price on shares of ChemoCentryx in a report on Friday, August 10th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $16.58.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in ChemoCentryx by 3.0% in the 3rd quarter. BlackRock Inc. now owns 2,802,721 shares of the biopharmaceutical company’s stock worth $35,425,000 after acquiring an additional 80,783 shares during the period. Wasatch Advisors Inc. boosted its holdings in ChemoCentryx by 0.5% in the 3rd quarter. Wasatch Advisors Inc. now owns 2,389,254 shares of the biopharmaceutical company’s stock worth $30,200,000 after acquiring an additional 10,991 shares during the period. Acadian Asset Management LLC boosted its holdings in ChemoCentryx by 20.6% in the 3rd quarter. Acadian Asset Management LLC now owns 896,380 shares of the biopharmaceutical company’s stock worth $11,330,000 after acquiring an additional 153,082 shares during the period. Nantahala Capital Management LLC boosted its holdings in ChemoCentryx by 2.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 615,173 shares of the biopharmaceutical company’s stock worth $8,102,000 after acquiring an additional 14,685 shares during the period. Finally, Millennium Management LLC boosted its holdings in ChemoCentryx by 19.7% in the 2nd quarter. Millennium Management LLC now owns 387,875 shares of the biopharmaceutical company’s stock worth $5,108,000 after acquiring an additional 63,763 shares during the period. Hedge funds and other institutional investors own 53.18% of the company’s stock.
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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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