ChemoCentryx, Inc. (NASDAQ:CCXI) Expected to Announce Quarterly Sales of $9.76 Million

Brokerages predict that ChemoCentryx, Inc. (NASDAQ:CCXI) will announce $9.76 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for ChemoCentryx’s earnings. The highest sales estimate is $34.04 million and the lowest is $2.50 million. ChemoCentryx reported sales of $5.09 million during the same quarter last year, which indicates a positive year-over-year growth rate of 91.7%. The firm is scheduled to report its next earnings report on Monday, November 8th.

On average, analysts expect that ChemoCentryx will report full year sales of $39.40 million for the current fiscal year, with estimates ranging from $19.67 million to $86.59 million. For the next year, analysts anticipate that the business will post sales of $66.74 million, with estimates ranging from $20.00 million to $133.67 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for ChemoCentryx.

ChemoCentryx (NASDAQ:CCXI) last announced its earnings results on Sunday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.01). ChemoCentryx had a negative net margin of 568.54% and a negative return on equity of 33.17%. The business had revenue of $1.81 million for the quarter, compared to analysts’ expectations of $4.85 million. During the same period in the prior year, the business earned $0.29 earnings per share. The company’s revenue for the quarter was down 96.3% compared to the same quarter last year.

Several equities research analysts recently weighed in on the company. Stifel Nicolaus raised ChemoCentryx from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $26.00 to $31.00 in a report on Tuesday, July 6th. Canaccord Genuity decreased their price objective on ChemoCentryx from $79.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, August 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, ChemoCentryx presently has an average rating of “Buy” and a consensus price target of $37.88.

CCXI traded up $0.33 during trading hours on Friday, hitting $16.00. The stock had a trading volume of 13,784 shares, compared to its average volume of 2,086,693. The company’s fifty day simple moving average is $15.23 and its 200 day simple moving average is $26.23. ChemoCentryx has a 1 year low of $9.53 and a 1 year high of $70.29. The stock has a market cap of $1.12 billion, a PE ratio of -8.88 and a beta of 1.46. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.04.

Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in ChemoCentryx during the 1st quarter valued at about $118,000. E Fund Management Co. Ltd. purchased a new position in ChemoCentryx during the 1st quarter valued at about $123,000. Nisa Investment Advisors LLC grew its holdings in ChemoCentryx by 56.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,330 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 1,200 shares in the last quarter. Royal Bank of Canada grew its holdings in ChemoCentryx by 1,443.2% during the 1st quarter. Royal Bank of Canada now owns 3,966 shares of the biopharmaceutical company’s stock valued at $203,000 after buying an additional 3,709 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in ChemoCentryx during the 1st quarter valued at about $220,000. 63.20% of the stock is owned by institutional investors and hedge funds.

ChemoCentryx Company Profile

ChemoCentryx, Inc is a biopharmaceutical company engages in the development and commercialization of medicines. It focuses on inflammatory disorders, autoimmune diseases, and cancer. Its drug candidates such as Avacopan and CCX140, selectively blocks a specific chemoattractant receptor, leaving the rest of the immune system intact.

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Earnings History and Estimates for ChemoCentryx (NASDAQ:CCXI)

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