Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised shares of ChemoCentryx from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $16.00 to $14.00 in a research note on Thursday, September 12th. BidaskClub raised shares of ChemoCentryx from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research cut shares of ChemoCentryx from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $17.57.
CCXI stock opened at $7.59 on Thursday. The firm has a 50 day moving average of $7.06 and a 200-day moving average of $9.51. ChemoCentryx has a 12-month low of $6.16 and a 12-month high of $14.98. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.28. The company has a market cap of $448.90 million, a price-to-earnings ratio of -9.99 and a beta of 1.15.
ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.05). ChemoCentryx had a negative net margin of 144.27% and a negative return on equity of 103.61%. The company had revenue of $7.17 million for the quarter, compared to analyst estimates of $10.08 million. Sell-side analysts forecast that ChemoCentryx will post -1.04 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of ChemoCentryx during the 2nd quarter worth approximately $29,000. Quantamental Technologies LLC purchased a new position in shares of ChemoCentryx during the 2nd quarter worth approximately $46,000. Aperio Group LLC purchased a new position in shares of ChemoCentryx during the 2nd quarter worth approximately $82,000. JPMorgan Chase & Co. increased its stake in shares of ChemoCentryx by 104.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,191 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 5,710 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of ChemoCentryx during the 2nd quarter worth approximately $111,000. 64.27% of the stock is owned by institutional investors and hedge funds.
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.
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