ChemoCentryx (NASDAQ:CCXI) Downgraded by JPMorgan Chase & Co. to Neutral

ChemoCentryx (NASDAQ:CCXI) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Thursday, AR Network reports. They presently have a $60.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $63.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 14.85% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Raymond James upped their price target on ChemoCentryx from $95.00 to $100.00 and gave the stock a “strong-buy” rating in a report on Tuesday, August 11th. ValuEngine upgraded ChemoCentryx from a “hold” rating to a “buy” rating in a report on Thursday, October 1st. BidaskClub cut ChemoCentryx from a “buy” rating to a “hold” rating in a report on Tuesday, October 20th. Zacks Investment Research cut ChemoCentryx from a “buy” rating to a “hold” rating in a report on Friday, July 31st. Finally, HC Wainwright upped their price target on ChemoCentryx from $73.00 to $85.00 in a report on Thursday, September 17th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $71.90.

NASDAQ CCXI opened at $52.24 on Thursday. The company has a current ratio of 9.00, a quick ratio of 9.00 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $54.47 and its two-hundred day moving average is $55.00. ChemoCentryx has a 12-month low of $7.61 and a 12-month high of $65.43. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -96.74 and a beta of 1.70.

ChemoCentryx (NASDAQ:CCXI) last released its earnings results on Monday, August 10th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.63. ChemoCentryx had a negative return on equity of 19.57% and a negative net margin of 39.19%. The company had revenue of $49.44 million for the quarter, compared to analysts’ expectations of $8.31 million. Equities analysts forecast that ChemoCentryx will post -0.69 earnings per share for the current fiscal year.

In related news, major shareholder (International) Ltd Vifor sold 49,258 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $53.93, for a total value of $2,656,483.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the business. Exane Derivatives lifted its stake in shares of ChemoCentryx by 11.3% during the 3rd quarter. Exane Derivatives now owns 1,794 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 182 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of ChemoCentryx by 7.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,929 shares of the biopharmaceutical company’s stock worth $226,000 after purchasing an additional 270 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in shares of ChemoCentryx by 3.6% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 8,559 shares of the biopharmaceutical company’s stock worth $469,000 after purchasing an additional 299 shares during the period. Arizona State Retirement System lifted its stake in shares of ChemoCentryx by 3.5% during the 2nd quarter. Arizona State Retirement System now owns 9,206 shares of the biopharmaceutical company’s stock worth $530,000 after purchasing an additional 314 shares during the period. Finally, Harbor Investment Advisory LLC lifted its stake in shares of ChemoCentryx by 261.1% during the 3rd quarter. Harbor Investment Advisory LLC now owns 520 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 376 shares during the period. 76.36% of the stock is currently owned by institutional investors.

ChemoCentryx Company Profile

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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Analyst Recommendations for ChemoCentryx (NASDAQ:CCXI)

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