$4.99 Million in Sales Expected for ChemoCentryx, Inc. (NASDAQ:CCXI) This Quarter

Analysts expect ChemoCentryx, Inc. (NASDAQ:CCXI) to report $4.99 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for ChemoCentryx’s earnings, with the lowest sales estimate coming in at $2.50 million and the highest estimate coming in at $8.90 million. ChemoCentryx posted sales of $49.44 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 89.9%. The firm is expected to report its next earnings results on Monday, August 9th.

According to Zacks, analysts expect that ChemoCentryx will report full year sales of $57.54 million for the current fiscal year, with estimates ranging from $24.26 million to $90.16 million. For the next year, analysts expect that the business will post 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 analysts that cover ChemoCentryx.

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

Several research analysts have recently weighed in on the stock. TheStreet lowered shares of ChemoCentryx from a “c-” rating to a “d” rating in a research note on Tuesday, March 2nd. Raymond James upped their price objective on ChemoCentryx from $119.00 to $120.00 and gave the company a “strong-buy” rating in a research note on Monday, March 8th. HC Wainwright raised their price objective on ChemoCentryx from $83.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, March 2nd. Finally, Stifel Nicolaus assumed coverage on ChemoCentryx in a report on Monday, March 8th. They set a “buy” rating and a $93.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. ChemoCentryx currently has an average rating of “Buy” and a consensus price target of $80.78.

CCXI traded down $22.19 during trading on Thursday, reaching $26.63. 25,293,343 shares of the stock were exchanged, compared to its average volume of 787,298. The company has a debt-to-equity ratio of 0.05, a quick ratio of 10.12 and a current ratio of 10.12. The stock’s 50 day moving average price is $49.82 and its two-hundred day moving average price is $57.11. ChemoCentryx has a twelve month low of $17.20 and a twelve month high of $70.29. The stock has a market cap of $1.86 billion, a P/E ratio of -39.75 and a beta of 1.70.

In related news, Director Geoffrey M. Parker sold 1,910 shares of the company’s stock in a transaction dated Thursday, March 4th. The shares were sold at an average price of $60.20, for a total transaction of $114,982.00. Following the completion of the sale, the director now owns 111,913 shares of the company’s stock, valued at $6,737,162.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Treasurer Markus J. Cappel sold 33,092 shares of the stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $68.43, for a total transaction of $2,264,485.56. Following the sale, the treasurer now owns 91,243 shares in the company, valued at $6,243,758.49. The disclosure for this sale can be found here. Insiders sold a total of 53,626 shares of company stock valued at $3,632,810 in the last three months. Insiders own 9.30% of the company’s stock.

Several institutional investors have recently modified their holdings of CCXI. Envestnet Asset Management Inc. increased its stake in ChemoCentryx by 106.8% in the first quarter. Envestnet Asset Management Inc. now owns 7,674 shares of the biopharmaceutical company’s stock valued at $393,000 after acquiring an additional 3,964 shares during the last quarter. Exane Derivatives boosted its holdings in shares of ChemoCentryx by 5.0% in the 1st quarter. Exane Derivatives now owns 21,005 shares of the biopharmaceutical company’s stock valued at $1,076,000 after purchasing an additional 991 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of ChemoCentryx in the 1st quarter valued at $118,000. Chicago Partners Investment Group LLC increased its stake in shares of ChemoCentryx by 38.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 8,744 shares of the biopharmaceutical company’s stock valued at $414,000 after purchasing an additional 2,430 shares during the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in shares of 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 buying an additional 240 shares in the last quarter. 80.67% of the stock is owned by institutional investors.

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.

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