ChemoCentryx (NASDAQ:CCXI) Lowered to Neutral at HC Wainwright

HC Wainwright lowered shares of ChemoCentryx (NASDAQ:CCXI – Get Rating) from a buy rating to a neutral rating in a report issued on Friday, The Fly reports. The brokerage currently has $52.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $101.00.

Several other equities research analysts have also issued reports on CCXI. StockNews.com lowered shares of ChemoCentryx from a hold rating to a sell rating in a research report on Tuesday. Canaccord Genuity Group initiated coverage on shares of ChemoCentryx in a report on Thursday. They set a buy rating and a $81.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ChemoCentryx has a consensus rating of Moderate Buy and an average target price of $65.11.

ChemoCentryx Stock Performance

Shares of CCXI stock opened at $50.52 on Friday. ChemoCentryx has a one year low of $13.11 and a one year high of $50.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.07 and a current ratio of 5.11. The company has a 50 day moving average price of $25.29 and a 200 day moving average price of $24.45. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -25.13 and a beta of 1.67.

ChemoCentryx (NASDAQ:CCXI – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.25). ChemoCentryx had a negative return on equity of 47.24% and a negative net margin of 514.64%. The business had revenue of $5.46 million during the quarter, compared to analyst estimates of $4.43 million. During the same period in the previous year, the company earned ($0.43) EPS. Sell-side analysts anticipate that ChemoCentryx will post -1.94 EPS for the current year.

Insider Transactions at ChemoCentryx

In other news, Director James L. Tyree sold 3,863 shares of the firm’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $25.66, for a total value of $99,124.58. Following the transaction, the director now directly owns 19,138 shares in the company, valued at approximately $491,081.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.30% of the company’s stock.

Institutional Trading of ChemoCentryx

Several hedge funds have recently bought and sold shares of CCXI. Allspring Global Investments Holdings LLC bought a new position in ChemoCentryx in the 4th quarter worth approximately $2,896,000. State of New Jersey Common Pension Fund D bought a new position in ChemoCentryx in the 4th quarter worth approximately $2,582,000. CWM LLC bought a new position in ChemoCentryx in the 4th quarter worth approximately $37,000. Assenagon Asset Management S.A. bought a new position in ChemoCentryx in the 4th quarter worth approximately $8,428,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ChemoCentryx by 64.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,534 shares of the biopharmaceutical company’s stock worth $347,000 after buying an additional 3,734 shares in the last quarter. 82.28% of the stock is currently owned by institutional investors.

ChemoCentryx Company Profile

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ChemoCentryx, Inc, a biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. It offers TAVNEOS (avacopan), an orally administered selective C5aR inhibitor for the treatment of adult patients with severe active anti-neutrophil cytoplasmic autoantibody-associated vasculitis.