ChemoCentryx Inc (CCXI) Given Consensus Recommendation of “Buy” by Analysts

ChemoCentryx Inc (NASDAQ:CCXI) has been given a consensus recommendation of “Buy” by the twelve brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $16.79.

A number of analysts have issued reports on CCXI shares. Piper Jaffray Companies started coverage on shares of ChemoCentryx in a research note on Monday, February 11th. They issued an “overweight” rating and a $20.00 target price for the company. BidaskClub upgraded shares of ChemoCentryx from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 21st. ValuEngine upgraded shares of ChemoCentryx from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 25th. B. Riley started coverage on shares of ChemoCentryx in a research note on Tuesday, January 8th. They issued a “neutral” rating and a $12.50 target price for the company. Finally, Zacks Investment Research upgraded shares of ChemoCentryx from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Wednesday.

In other news, Treasurer Markus J. Cappel sold 5,069 shares of the business’s stock in a transaction on 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 in the company, valued at $488,955.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan M. Kanaya sold 37,893 shares of the business’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $12.08, for a total transaction of $457,747.44. Following the completion of the sale, the chief financial officer now owns 110,746 shares of the company’s stock, valued at $1,337,811.68. The disclosure for this sale can be found here. Insiders sold 78,541 shares of company stock valued at $946,573 over the last 90 days. 14.50% of the stock is owned by corporate insiders.



Several institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in ChemoCentryx by 3.0% during the third quarter. BlackRock Inc. now owns 2,802,721 shares of the biopharmaceutical company’s stock worth $35,425,000 after acquiring an additional 80,783 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of ChemoCentryx by 70.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 547,771 shares of the biopharmaceutical company’s stock worth $6,922,000 after purchasing an additional 226,485 shares during the last quarter. Cadence Capital Management LLC bought a new stake in shares of ChemoCentryx in the 3rd quarter worth about $1,205,000. VHCP Management III LLC bought a new stake in shares of ChemoCentryx in the 3rd quarter worth about $493,000. Finally, Vanguard Group Inc grew its holdings in shares of 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 during the last quarter. Institutional investors and hedge funds own 54.11% of the company’s stock.

CCXI traded up $0.12 on Friday, reaching $10.22. 259,554 shares of the company traded hands, compared to its average volume of 323,409. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.87 and a current ratio of 2.82. The company has a market capitalization of $510.35 million, a PE ratio of -13.45 and a beta of 1.28. ChemoCentryx has a 52-week low of $9.07 and a 52-week high of $15.08.

ChemoCentryx (NASDAQ:CCXI) last posted its earnings results on Monday, March 11th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.06. The firm had revenue of $9.33 million during the quarter, compared to analysts’ expectations of $9.54 million. ChemoCentryx had a negative net margin of 88.55% and a negative return on equity of 167.57%. On average, equities analysts forecast that ChemoCentryx will post -1.15 earnings per share for the current fiscal year.

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).

Featured Story: Net Asset Value

Analyst Recommendations for ChemoCentryx (NASDAQ:CCXI)

Receive News & Ratings for ChemoCentryx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChemoCentryx and related companies with MarketBeat.com's FREE daily email newsletter.