ChemoCentryx (NASDAQ:CCXI) Price Target Raised to $100.00 at Raymond James

ChemoCentryx (NASDAQ:CCXI) had its target price boosted by Raymond James from $95.00 to $100.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a strong-buy rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently commented on CCXI. Piper Sandler upped their price target on shares of ChemoCentryx from $54.00 to $70.00 and gave the company an overweight rating in a research note on Monday, May 18th. Canaccord Genuity restated a buy rating on shares of ChemoCentryx in a research note on Wednesday, June 3rd. Wells Fargo & Co assumed coverage on shares of ChemoCentryx in a research note on Wednesday, May 27th. They issued an overweight rating and a $79.00 price target on the stock. ValuEngine downgraded shares of ChemoCentryx from a buy rating to a hold rating in a research note on Thursday, July 2nd. Finally, BidaskClub cut shares of ChemoCentryx from a strong-buy rating to a buy rating in a report on Saturday, July 25th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $69.50.

Shares of CCXI opened at $52.64 on Tuesday. The firm has a market capitalization of $3.63 billion, a PE ratio of -97.48 and a beta of 1.94. The company’s 50-day moving average is $55.71 and its 200-day moving average is $51.25. ChemoCentryx has a fifty-two week low of $6.37 and a fifty-two week high of $65.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.22 and a quick ratio of 3.22.

ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings data on Monday, August 10th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.63. ChemoCentryx had a negative net margin of 39.19% and a negative return on equity of 47.56%. Analysts predict that ChemoCentryx will post -1.39 earnings per share for the current fiscal year.

In other news, major shareholder (International) Ltd Vifor sold 49,258 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $53.93, for a total transaction of $2,656,483.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Treasurer Markus J. Cappel sold 40,867 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $60.06, for a total transaction of $2,454,472.02. Following the sale, the treasurer now directly owns 79,047 shares of the company’s stock, valued at approximately $4,747,562.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,350,078 shares of company stock valued at $78,767,977. Company insiders own 9.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its position in ChemoCentryx by 7.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,929 shares of the biopharmaceutical company’s stock valued at $226,000 after purchasing an additional 270 shares during the period. Arizona State Retirement System grew its position in ChemoCentryx by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 9,206 shares of the biopharmaceutical company’s stock valued at $530,000 after purchasing an additional 314 shares during the period. JPMorgan Chase & Co. grew its position in ChemoCentryx by 2.5% in the 1st quarter. JPMorgan Chase & Co. now owns 13,435 shares of the biopharmaceutical company’s stock valued at $540,000 after purchasing an additional 330 shares during the period. Principal Financial Group Inc. grew its position in ChemoCentryx by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 14,223 shares of the biopharmaceutical company’s stock valued at $571,000 after purchasing an additional 468 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in ChemoCentryx by 3.1% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,685 shares of the biopharmaceutical company’s stock valued at $630,000 after purchasing an additional 470 shares during the period. 70.37% of the stock is owned by institutional investors and hedge funds.

About ChemoCentryx

ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. Its lead drug candidate is Avacopan, an orally-administered complement inhibitor of the complement C5a receptor (C5aR), which is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-associated vasculitis; and Phase IIb clinical trial, the AURORA trial for the treatment of patients with moderate-to-severe hidradenitis suppurativa, as well as patients with complement 3 glomerulopathy.

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