BidaskClub Upgrades ChemoCentryx (CCXI) to “Buy”

ChemoCentryx (NASDAQ:CCXI) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other brokerages also recently weighed in on CCXI. Zacks Investment Research upgraded ChemoCentryx from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Tuesday, July 10th. Raymond James began coverage on ChemoCentryx in a research note on Thursday, June 28th. They issued a “strong-buy” rating and a $18.00 price target for the company. JPMorgan Chase & Co. downgraded ChemoCentryx from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $15.00 in a research note on Tuesday, August 14th. B. Riley began coverage on ChemoCentryx in a research note on Friday, September 7th. They issued a “neutral” rating and a $12.50 price target for the company. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price target on shares of ChemoCentryx in a research note on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. ChemoCentryx has a consensus rating of “Buy” and a consensus target price of $16.58.

Shares of ChemoCentryx stock opened at $11.41 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 2.69. The stock has a market cap of $584.10 million, a PE ratio of 32.64 and a beta of 1.54. ChemoCentryx has a 1-year low of $5.42 and a 1-year high of $15.08.

ChemoCentryx (NASDAQ:CCXI) last announced its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $15.02 million during the quarter, compared to the consensus estimate of $16.88 million. ChemoCentryx had a return on equity of 39.31% and a net margin of 18.69%. On average, analysts predict that ChemoCentryx will post -0.86 EPS for the current fiscal year.

In related news, insider Plc Glaxosmithkline sold 7,343,492 shares of ChemoCentryx stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $11.69, for a total value of $85,845,421.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.50% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of CCXI. Sei Investments Co. grew its stake in ChemoCentryx by 203.5% in the second quarter. Sei Investments Co. now owns 8,549 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 5,732 shares in the last quarter. Macquarie Group Ltd. acquired a new position in ChemoCentryx in the second quarter valued at approximately $130,000. grace capital acquired a new position in ChemoCentryx in the second quarter valued at approximately $132,000. Dynamic Technology Lab Private Ltd acquired a new position in ChemoCentryx in the first quarter valued at approximately $153,000. Finally, Paloma Partners Management Co acquired a new position in ChemoCentryx in the second quarter valued at approximately $159,000. Institutional investors and hedge funds own 53.18% of the company’s stock.

ChemoCentryx Company Profile

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).

See Also: What is the Rule of 72?

Analyst Recommendations 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.

Leave a Reply