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 report released 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. “

Other equities analysts also recently issued research reports about the stock. BidaskClub upgraded shares of ChemoCentryx from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. ValuEngine upgraded shares of ChemoCentryx from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 25th. B. Riley began coverage on shares of ChemoCentryx in a report on Tuesday. They issued a “neutral” rating and a $12.50 price target on the stock. Finally, Canaccord Genuity increased their price target on shares of ChemoCentryx from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, November 12th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and three have assigned a strong buy rating to the stock. ChemoCentryx has an average rating of “Buy” and an average price target of $16.42.



Shares of CCXI traded down $0.07 during mid-day trading on Friday, hitting $12.31. 116,710 shares of the company traded hands, compared to its average volume of 302,126. ChemoCentryx has a 1-year low of $8.01 and a 1-year high of $15.08. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.69. The company has a market cap of $600.24 million, a P/E ratio of 34.19 and a beta of 1.38.

ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.03. ChemoCentryx had a net margin of 13.88% and a return on equity of 32.16%. The firm had revenue of $8.98 million for the quarter, compared to the consensus estimate of $11.55 million. On average, research analysts anticipate that ChemoCentryx will post -0.83 EPS for the current fiscal year.

In other ChemoCentryx news, CEO Thomas J. Schall sold 7,275 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $12.04, for a total value of $87,591.00. Following the sale, the chief executive officer now owns 2,236,130 shares in the company, valued at approximately $26,923,005.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Plc Glaxosmithkline sold 7,343,492 shares of the company’s stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $11.69, for a total value of $85,845,421.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,421,588 shares of company stock worth $86,753,688. 14.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in ChemoCentryx by 3.0% in the 3rd quarter. BlackRock Inc. now owns 2,802,721 shares of the biopharmaceutical company’s stock worth $35,425,000 after purchasing an additional 80,783 shares in the last quarter. Wasatch Advisors Inc. boosted its position in ChemoCentryx by 0.5% in the 3rd quarter. Wasatch Advisors Inc. now owns 2,389,254 shares of the biopharmaceutical company’s stock worth $30,200,000 after purchasing an additional 10,991 shares in the last quarter. Vanguard Group Inc. boosted its position in ChemoCentryx by 7.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,329,494 shares of the biopharmaceutical company’s stock worth $16,805,000 after purchasing an additional 90,899 shares in the last quarter. Vanguard Group Inc boosted its position in ChemoCentryx by 7.3% in the 3rd quarter. Vanguard Group Inc now owns 1,329,494 shares of the biopharmaceutical company’s stock worth $16,805,000 after purchasing an additional 90,899 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in ChemoCentryx by 20.6% in the 3rd quarter. Acadian Asset Management LLC now owns 896,380 shares of the biopharmaceutical company’s stock worth $11,330,000 after purchasing an additional 153,082 shares in the last quarter. Institutional investors and hedge funds own 53.83% of the company’s stock.

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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