ChemoCentryx (CCXI) Stock Rating Lowered by 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 have also recently issued research reports about the company. BidaskClub upgraded ChemoCentryx from a “hold” rating to a “buy” rating in a report on Wednesday, November 28th. ValuEngine cut ChemoCentryx from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 5th. B. Riley started coverage on ChemoCentryx in a report on Tuesday, January 8th. They issued a “neutral” rating and a $12.50 price target on the stock. Svb Leerink reiterated an “outperform” rating on shares of ChemoCentryx in a report on Thursday, February 14th. Finally, Piper Jaffray Companies started coverage on ChemoCentryx in a report on Monday, February 11th. They issued an “overweight” rating and a $20.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $16.79.



ChemoCentryx stock traded down $0.03 during mid-day trading on Friday, hitting $10.19. The stock had a trading volume of 313,200 shares, compared to its average volume of 323,218. The stock has a market cap of $516.38 million, a price-to-earnings ratio of -13.41 and a beta of 1.28. ChemoCentryx has a 12 month low of $9.07 and a 12 month high of $15.08. The company has a quick ratio of 2.87, a current ratio of 2.82 and a debt-to-equity ratio of 1.34.

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

In other ChemoCentryx news, CFO Susan M. Kanaya sold 37,893 shares of the firm’s stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $12.08, for a total transaction of $457,747.44. Following the transaction, the chief financial officer now owns 110,746 shares in the company, valued at $1,337,811.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Treasurer Markus J. Cappel sold 8,134 shares of the firm’s stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $12.00, for a total value of $97,608.00. Following the transaction, the treasurer now owns 40,510 shares in the company, valued at approximately $486,120. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,541 shares of company stock worth $946,573. Company insiders own 14.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CCXI. American Century Companies Inc. boosted its holdings in 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 buying an additional 5,166 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of ChemoCentryx by 6.8% during the third quarter. Bank of New York Mellon Corp now owns 126,848 shares of the biopharmaceutical company’s stock worth $1,604,000 after purchasing an additional 8,070 shares during the period. Fosun International Ltd acquired a new stake in shares of ChemoCentryx during the third quarter worth about $1,719,000. BlackRock Inc. raised its position in shares of 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 purchasing an additional 80,783 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of ChemoCentryx by 70.5% during the third 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 period. Hedge funds and other institutional investors own 54.11% 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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