ChemoCentryx (NASDAQ:CCXI) Lowered to “Buy” at ValuEngine

ValuEngine cut shares of ChemoCentryx (NASDAQ:CCXI) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of ChemoCentryx from a sell rating to a hold rating in a report on Tuesday, November 5th. HC Wainwright boosted their price target on shares of ChemoCentryx from $23.00 to $40.00 and gave the company a buy rating in a report on Tuesday, November 26th. Piper Jaffray Companies boosted their price target on shares of ChemoCentryx from $17.00 to $54.00 and gave the company an overweight rating in a report on Tuesday, November 26th. Canaccord Genuity boosted their price target on shares of ChemoCentryx from $16.00 to $48.00 and gave the company a buy rating in a report on Tuesday, November 26th. Finally, BidaskClub raised shares of ChemoCentryx from a hold rating to a buy rating in a report on Monday, October 14th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $40.29.

Shares of ChemoCentryx stock opened at $30.33 on Wednesday. The firm has a market capitalization of $1.78 billion, a PE ratio of -39.91 and a beta of 1.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.12 and a quick ratio of 3.12. The company’s fifty day moving average price is $10.17 and its two-hundred day moving average price is $8.83. ChemoCentryx has a 52-week low of $6.16 and a 52-week high of $36.88.

ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. The firm had revenue of $10.58 million for the quarter, compared to analyst estimates of $7.83 million. ChemoCentryx had a negative net margin of 143.30% and a negative return on equity of 88.76%. Analysts predict that ChemoCentryx will post -0.98 earnings per share for the current fiscal year.

In other news, CFO Susan M. Kanaya sold 311,625 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $31.51, for a total value of $9,819,303.75. Following the sale, the chief financial officer now owns 162,931 shares of the company’s stock, valued at approximately $5,133,955.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Treasurer Markus J. Cappel sold 330,524 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $32.03, for a total transaction of $10,586,683.72. Following the completion of the sale, the treasurer now directly owns 99,764 shares in the company, valued at approximately $3,195,440.92. The disclosure for this sale can be found here. Insiders sold a total of 921,315 shares of company stock worth $29,213,675 in the last three months. Insiders own 12.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. 361 Capital LLC grew its holdings in shares of ChemoCentryx by 326.3% in the 2nd quarter. 361 Capital LLC now owns 197,562 shares of the biopharmaceutical company’s stock worth $1,837,000 after purchasing an additional 151,219 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of ChemoCentryx by 6.2% in the 2nd quarter. Acadian Asset Management LLC now owns 823,080 shares of the biopharmaceutical company’s stock worth $7,656,000 after purchasing an additional 47,957 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of ChemoCentryx by 37.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,774,489 shares of the biopharmaceutical company’s stock worth $16,502,000 after purchasing an additional 488,063 shares during the last quarter. BB&T Securities LLC grew its holdings in shares of ChemoCentryx by 3.0% in the 2nd quarter. BB&T Securities LLC now owns 138,827 shares of the biopharmaceutical company’s stock worth $1,291,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Fosun International Ltd grew its holdings in shares of ChemoCentryx by 40.2% in the 2nd quarter. Fosun International Ltd now owns 128,637 shares of the biopharmaceutical company’s stock worth $1,150,000 after purchasing an additional 36,861 shares during the last quarter. 60.72% 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.

Featured Story: Put Option

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for ChemoCentryx (NASDAQ:CCXI)

Receive News & Ratings for ChemoCentryx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChemoCentryx and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit