ValuEngine Lowers ChemoCentryx (NASDAQ:CCXI) to Hold

ChemoCentryx (NASDAQ:CCXI) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday, ValuEngine reports.

A number of other equities research analysts have also recently commented on the stock. B. Riley raised shares of ChemoCentryx from a “neutral” rating to a “buy” rating and increased their price objective for the company from $12.50 to $22.00 in a research note on Wednesday, March 27th. Zacks Investment Research raised shares of ChemoCentryx from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Wednesday, March 13th. Raymond James set a $22.00 price objective on shares of ChemoCentryx and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Svb Leerink reissued an “outperform” rating on shares of ChemoCentryx in a research note on Thursday, February 14th. Finally, TheStreet cut shares of ChemoCentryx from a “c” rating to a “d-” rating in a research note on Monday, March 18th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. ChemoCentryx has an average rating of “Buy” and a consensus price target of $17.71.

Shares of NASDAQ CCXI opened at $8.31 on Wednesday. The stock has a market capitalization of $498.07 million, a P/E ratio of -10.93 and a beta of 1.37. ChemoCentryx has a 52 week low of $8.06 and a 52 week high of $14.98. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.43 and a current ratio of 3.43.

ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.01. The firm had revenue of $8.33 million for the quarter, compared to analysts’ expectations of $11.37 million. ChemoCentryx had a negative net margin of 97.22% and a negative return on equity of 111.15%. As a group, equities research analysts expect that ChemoCentryx will post -0.92 earnings per share for the current year.

In other ChemoCentryx news, Director Geoffrey M. Parker sold 12,815 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $12.00, for a total transaction of $153,780.00. Following the sale, the director now directly owns 85,014 shares of the company’s stock, valued at approximately $1,020,168. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas J. Schall sold 160,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $13.72, for a total transaction of $2,195,200.00. Following the sale, the insider now directly owns 2,234,610 shares in the company, valued at $30,658,849.20. The disclosure for this sale can be found here. Insiders have sold a total of 246,570 shares of company stock worth $3,313,980 over the last ninety days. 12.20% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in CCXI. FMR LLC boosted its position in shares of ChemoCentryx by 796.2% in the first quarter. FMR LLC now owns 5,774,432 shares of the biopharmaceutical company’s stock worth $80,207,000 after acquiring an additional 5,130,127 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ChemoCentryx by 89.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,194,990 shares of the biopharmaceutical company’s stock worth $16,597,000 after acquiring an additional 562,929 shares during the last quarter. Sio Capital Management LLC boosted its position in shares of ChemoCentryx by 213.2% in the first quarter. Sio Capital Management LLC now owns 530,175 shares of the biopharmaceutical company’s stock worth $7,364,000 after acquiring an additional 360,918 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of ChemoCentryx by 28.3% in the first quarter. Renaissance Technologies LLC now owns 1,133,254 shares of the biopharmaceutical company’s stock worth $15,741,000 after acquiring an additional 249,873 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its position in shares of ChemoCentryx by 6.1% in the first quarter. Wasatch Advisors Inc. now owns 2,464,664 shares of the biopharmaceutical company’s stock worth $34,234,000 after acquiring an additional 141,341 shares during the last quarter. 58.14% of the stock is currently 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.

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Analyst Recommendations for ChemoCentryx (NASDAQ:CCXI)

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