-$0.47 EPS Expected for ChemoCentryx, Inc. (NASDAQ:CCXI) This Quarter

Wall Street brokerages expect that ChemoCentryx, Inc. (NASDAQ:CCXI) will report earnings per share (EPS) of ($0.47) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for ChemoCentryx’s earnings. The lowest EPS estimate is ($0.58) and the highest is ($0.14). ChemoCentryx reported earnings per share of ($0.35) during the same quarter last year, which suggests a negative year over year growth rate of 34.3%. The business is expected to issue its next earnings report on Monday, November 8th.

On average, analysts expect that ChemoCentryx will report full-year earnings of ($1.88) per share for the current year, with EPS estimates ranging from ($2.18) to ($1.24). For the next year, analysts anticipate that the business will post earnings of ($2.25) per share, with EPS estimates ranging from ($2.84) to ($1.55). Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for ChemoCentryx.

ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings results on Sunday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.01). ChemoCentryx had a negative net margin of 568.54% and a negative return on equity of 33.17%. The company had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $4.85 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. The company’s revenue was down 96.3% compared to the same quarter last year.

CCXI has been the subject of several recent analyst reports. Canaccord Genuity cut their price target on ChemoCentryx from $79.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, August 11th. Stifel Nicolaus upgraded ChemoCentryx from a “hold” rating to a “buy” rating and upped their price target for the company from $26.00 to $31.00 in a research report on Tuesday, July 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $37.88.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in ChemoCentryx in the first quarter valued at approximately $118,000. E Fund Management Co. Ltd. acquired a new position in ChemoCentryx during the first quarter worth $123,000. Nisa Investment Advisors LLC lifted its stake in ChemoCentryx by 56.3% during the second quarter. Nisa Investment Advisors LLC now owns 3,330 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 1,200 shares in the last quarter. Royal Bank of Canada lifted its stake in ChemoCentryx by 1,443.2% during the first quarter. Royal Bank of Canada now owns 3,966 shares of the biopharmaceutical company’s stock worth $203,000 after purchasing an additional 3,709 shares in the last quarter. Finally, Mirabella Financial Services LLP acquired a new position in ChemoCentryx during the first quarter worth $220,000. Hedge funds and other institutional investors own 63.20% of the company’s stock.

CCXI stock traded up $0.33 on Wednesday, hitting $16.00. 13,784 shares of the company’s stock were exchanged, compared to its average volume of 2,086,693. The firm has a 50 day moving average price of $15.23 and a two-hundred day moving average price of $26.23. ChemoCentryx has a 12-month low of $9.53 and a 12-month high of $70.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.73 and a current ratio of 5.73. The stock has a market cap of $1.12 billion, a P/E ratio of -8.88 and a beta of 1.46.

About ChemoCentryx

ChemoCentryx, Inc is a biopharmaceutical company engages in the development and commercialization of medicines. It focuses on inflammatory disorders, autoimmune diseases, and cancer. Its drug candidates such as Avacopan and CCX140, selectively blocks a specific chemoattractant receptor, leaving the rest of the immune system intact.

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Earnings History and Estimates for ChemoCentryx (NASDAQ:CCXI)

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