ChemoCentryx (CCXI) Downgraded to Hold at Zacks Investment Research

ChemoCentryx (NASDAQ:CCXI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “ChemoCentryx, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics to treat autoimmune diseases, inflammatory disorders and cancer. ChemoCentryx, Inc. is headquartered in Mountain View, California. “

A number of other analysts have also issued reports on CCXI. BidaskClub raised shares of ChemoCentryx from a “hold” rating to a “buy” rating in a research note on Wednesday, November 28th. B. Riley assumed coverage on shares of ChemoCentryx in a research note on Tuesday. They set a “neutral” rating and a $12.50 target price for the company. ValuEngine raised shares of ChemoCentryx from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 25th. Finally, Canaccord Genuity boosted their target price on shares of ChemoCentryx from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, November 12th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $16.42.

CCXI stock traded down $0.07 during mid-day trading on Friday, reaching $12.31. 116,710 shares of the stock traded hands, compared to its average volume of 302,126. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.69. ChemoCentryx has a one year low of $8.01 and a one year high of $15.08. The stock has a market capitalization of $600.24 million, a price-to-earnings ratio of 34.19 and a beta of 1.38.

ChemoCentryx (NASDAQ:CCXI) last issued its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.03. The firm had revenue of $8.98 million during the quarter, compared to analyst estimates of $11.55 million. ChemoCentryx had a net margin of 13.88% and a return on equity of 32.16%. As a group, equities research analysts expect that ChemoCentryx will post -0.83 EPS for the current year.

In related news, Treasurer Markus J. Cappel sold 5,069 shares of the company’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $12.07, for a total value of $61,182.83. Following the completion of the sale, the treasurer now directly owns 40,510 shares of the company’s stock, valued at $488,955.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Plc Glaxosmithkline sold 7,343,492 shares of the company’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $11.69, for a total transaction of $85,845,421.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,421,588 shares of company stock valued at $86,753,688. 14.50% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Swiss National Bank purchased a new stake in ChemoCentryx in the second quarter worth about $506,000. Dimensional Fund Advisors LP bought a new position in ChemoCentryx in the second quarter worth about $4,232,000. Sei Investments Co. raised its holdings in ChemoCentryx by 203.5% in the second quarter. Sei Investments Co. now owns 8,549 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 5,732 shares in the last quarter. grace capital bought a new position in ChemoCentryx in the second quarter worth about $132,000. Finally, BlackRock Inc. raised its holdings in ChemoCentryx by 6.0% in the second quarter. BlackRock Inc. now owns 2,721,938 shares of the biopharmaceutical company’s stock worth $35,847,000 after purchasing an additional 155,172 shares in the last quarter. 53.83% of the stock is owned by institutional investors.

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 (AAV).

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