Other equities analysts have also issued research reports about the stock. HC Wainwright boosted their price target on shares of ChemoCentryx from $73.00 to $85.00 in a report on Thursday. SVB Leerink boosted their target price on ChemoCentryx from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Zacks Investment Research lowered ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. ValuEngine lowered ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company started coverage on shares of ChemoCentryx in a report on Wednesday, May 27th. They set an “overweight” rating and a $79.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $71.10.
Shares of CCXI stock opened at $55.31 on Friday. The stock has a market cap of $3.81 billion, a PE ratio of -102.43 and a beta of 1.74. The stock has a 50-day moving average of $52.21 and a 200-day moving average of $52.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 9.00 and a quick ratio of 9.00. ChemoCentryx has a one year low of $6.44 and a one year high of $65.43.
In other ChemoCentryx 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 transaction of $2,656,483.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 1,026,552 shares of company stock worth $58,035,347 in the last 90 days. Company insiders own 9.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of CCXI. Vanguard Group Inc. increased its holdings in ChemoCentryx by 62.5% during the second quarter. Vanguard Group Inc. now owns 3,623,260 shares of the biopharmaceutical company’s stock worth $208,482,000 after buying an additional 1,393,472 shares during the last quarter. RA Capital Management L.P. grew its position in shares of ChemoCentryx by 30.6% in the 1st quarter. RA Capital Management L.P. now owns 4,176,910 shares of the biopharmaceutical company’s stock valued at $167,828,000 after acquiring an additional 977,521 shares during the period. FMR LLC increased its stake in shares of ChemoCentryx by 9.9% during the 2nd quarter. FMR LLC now owns 10,165,899 shares of the biopharmaceutical company’s stock worth $584,946,000 after purchasing an additional 919,214 shares during the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of ChemoCentryx in the 1st quarter valued at about $30,460,000. Finally, Avidity Partners Management LP lifted its stake in ChemoCentryx by 173.6% in the 2nd quarter. Avidity Partners Management LP now owns 645,800 shares of the biopharmaceutical company’s stock valued at $37,159,000 after purchasing an additional 409,800 shares during the last quarter. Hedge funds and other institutional investors own 76.36% of the company’s stock.
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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