Shares of ChemoCentryx Inc (NASDAQ:CCXI) have been assigned an average recommendation of “Buy” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $16.70.
CCXI has been the subject of several research reports. BidaskClub raised ChemoCentryx from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. ValuEngine raised ChemoCentryx from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of ChemoCentryx in a research note on Monday, August 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price target on shares of ChemoCentryx in a research note on Friday, August 10th. Finally, Zacks Investment Research downgraded ChemoCentryx from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 16th.
NASDAQ:CCXI opened at $11.54 on Friday. The firm has a market cap of $580.07 million, a PE ratio of 32.06 and a beta of 1.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 2.69. ChemoCentryx has a 52-week low of $5.42 and a 52-week high of $15.08.
In related news, insider Markus J. Cappel sold 30,237 shares of ChemoCentryx stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $11.01, for a total transaction of $332,909.37. Following the completion of the sale, the insider now owns 54,063 shares in the company, valued at approximately $595,233.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Company insiders own 14.50% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Sei Investments Co. grew its holdings in ChemoCentryx by 203.5% in the 2nd quarter. Sei Investments Co. now owns 8,549 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 5,732 shares during the period. Macquarie Group Ltd. purchased a new stake in ChemoCentryx in the 2nd quarter valued at about $130,000. grace capital purchased a new stake in ChemoCentryx in the 2nd quarter valued at about $132,000. Dynamic Technology Lab Private Ltd purchased a new stake in ChemoCentryx in the 1st quarter valued at about $153,000. Finally, Paloma Partners Management Co purchased a new stake in ChemoCentryx in the 2nd quarter valued at about $159,000. Hedge funds and other institutional investors own 53.18% of the company’s stock.
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).
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