Analysts Anticipate ChemoCentryx, Inc. (NASDAQ:CCXI) Will Announce Quarterly Sales of $4.99 Million

Equities research analysts expect that ChemoCentryx, Inc. (NASDAQ:CCXI) will report sales of $4.99 million for the current quarter, Zacks reports. Six analysts have provided estimates for ChemoCentryx’s earnings, with estimates ranging from $2.50 million to $8.90 million. ChemoCentryx reported sales of $49.44 million in the same quarter last year, which indicates a negative year over year growth rate of 89.9%. The business is expected to announce its next earnings results on Monday, August 9th.

On average, analysts expect that ChemoCentryx will report full year sales of $57.54 million for the current year, with estimates ranging from $24.26 million to $90.16 million. For the next financial year, analysts forecast that the firm will report sales of $162.71 million, with estimates ranging from $142.10 million to $248.84 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover ChemoCentryx.

ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings results on Thursday, April 29th. The biopharmaceutical company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.03). ChemoCentryx had a negative net margin of 58.10% and a negative return on equity of 17.23%.

Several brokerages recently weighed in on CCXI. TheStreet downgraded shares of ChemoCentryx from a “c-” rating to a “d” rating in a research report on Tuesday, March 2nd. Raymond James boosted their price target on ChemoCentryx from $119.00 to $120.00 and gave the company a “strong-buy” rating in a report on Monday, March 8th. HC Wainwright increased their price target on ChemoCentryx from $83.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, March 2nd. Finally, Stifel Nicolaus initiated coverage on shares of ChemoCentryx in a report on Monday, March 8th. They set a “buy” rating and a $93.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $80.78.

In related news, Director Thomas A. Edwards sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, February 9th. The stock was sold at an average price of $70.04, for a total value of $28,016.00. Following the completion of the sale, the director now owns 120,957 shares in the company, valued at $8,471,828.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer Markus J. Cappel sold 805 shares of the firm’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $67.07, for a total value of $53,991.35. Following the transaction, the treasurer now owns 87,226 shares in the company, valued at $5,850,247.82. The disclosure for this sale can be found here. Insiders have sold a total of 53,626 shares of company stock valued at $3,632,810 in the last quarter. 9.30% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC bought a new position in ChemoCentryx in the fourth quarter worth about $37,000. Harbor Investment Advisory LLC lifted its position in ChemoCentryx by 28.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,091 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 240 shares during the period. Penserra Capital Management LLC increased its holdings in shares of ChemoCentryx by 169.5% in the fourth quarter. Penserra Capital Management LLC now owns 1,590 shares of the biopharmaceutical company’s stock valued at $98,000 after purchasing an additional 1,000 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of ChemoCentryx in the first quarter worth about $118,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of ChemoCentryx by 19.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,130 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 350 shares during the period. 80.67% of the stock is owned by institutional investors.

CCXI traded down $22.19 during midday trading on Thursday, reaching $26.63. The company’s stock had a trading volume of 25,293,343 shares, compared to its average volume of 787,298. ChemoCentryx has a 1 year low of $17.20 and a 1 year high of $70.29. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -39.75 and a beta of 1.70. The stock’s 50-day moving average is $49.82 and its 200-day moving average is $57.11. The company has a current ratio of 10.12, a quick ratio of 10.12 and a debt-to-equity ratio of 0.05.

About ChemoCentryx

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. It develops Avacopan, an orally administered selective complement 5a receptor inhibitor for the treatment of anti-neutrophil cytoplasmic autoantibody-associated vasculitis; and completed Phase II clinical trial for the treatment of patients with severe hidradenitis suppurativa, as well as patients with complement 3 glomerulopathy.

Recommended Story: What do I need to know about analyst ratings?

Get a free copy of the Zacks research report on ChemoCentryx (CCXI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.