ChemoCentryx (CCXI) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of ChemoCentryx (NASDAQ:CCXI) from a hold rating to a buy rating in a report released on Wednesday. The firm currently has $13.00 target price on the biopharmaceutical company’s stock.

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. “

CCXI has been the topic of a number of other research reports. BidaskClub raised ChemoCentryx from a buy rating to a strong-buy rating in a research report on Friday, December 21st. ValuEngine lowered ChemoCentryx from a buy rating to a hold rating in a research report on Thursday, September 27th. Canaccord Genuity boosted their target price on ChemoCentryx from $18.00 to $20.00 and gave the company a buy rating in a research report on Monday, November 12th. Finally, B. Riley assumed coverage on ChemoCentryx in a research report on Tuesday. They issued a neutral rating and a $12.50 target price on the stock. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $16.42.



NASDAQ CCXI traded down $0.07 on Wednesday, reaching $12.31. The stock had a trading volume of 117,112 shares, compared to its average volume of 302,126. The firm has a market cap of $600.24 million, a price-to-earnings ratio of 34.19 and a beta of 1.38. 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 12-month low of $8.01 and a 12-month high of $15.08.

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

In other news, insider Plc Glaxosmithkline sold 7,343,492 shares of the company’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $11.69, for a total transaction of $85,845,421.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Markus J. Cappel sold 30,237 shares of the company’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $11.01, for a total value of $332,909.37. Following the sale, the insider now directly owns 54,063 shares in the company, valued at approximately $595,233.63. The disclosure for this sale can be found here. Insiders have sold 7,421,588 shares of company stock worth $86,753,688 in the last ninety days. Corporate insiders own 14.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. P.A.W. Capital Corp grew its stake in shares of ChemoCentryx by 5.9% during the third quarter. P.A.W. Capital Corp now owns 90,000 shares of the biopharmaceutical company’s stock worth $1,138,000 after purchasing an additional 5,000 shares in the last quarter. American Century Companies Inc. grew its stake in shares of ChemoCentryx by 3.2% during the third quarter. American Century Companies Inc. now owns 169,037 shares of the biopharmaceutical company’s stock worth $2,137,000 after purchasing an additional 5,166 shares in the last quarter. Sei Investments Co. grew its stake in shares of ChemoCentryx by 203.5% during 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. Schwab Charles Investment Management Inc. grew its stake in shares of ChemoCentryx by 14.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 49,177 shares of the biopharmaceutical company’s stock worth $648,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Algert Global LLC grew its stake in shares of ChemoCentryx by 6.8% during the third quarter. Algert Global LLC now owns 102,281 shares of the biopharmaceutical company’s stock worth $1,293,000 after purchasing an additional 6,497 shares in the last quarter. Hedge funds and other institutional investors own 53.83% of the company’s stock.

About ChemoCentryx

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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