ChemoCentryx (NASDAQ:CCXI) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.03, Fidelity Earnings reports. ChemoCentryx had a net margin of 18.69% and a return on equity of 39.31%. The firm had revenue of $8.98 million for the quarter, compared to analyst estimates of $11.55 million.
Shares of ChemoCentryx stock traded down $1.65 on Friday, reaching $10.05. 340,471 shares of the stock were exchanged, compared to its average volume of 164,306. ChemoCentryx has a one year low of $5.42 and a one year high of $15.08. The company has a current ratio of 2.69, a quick ratio of 2.69 and a debt-to-equity ratio of 0.51. The company has a market cap of $603.72 million, a PE ratio of 27.92 and a beta of 1.78.
A number of brokerages have issued reports on CCXI. BidaskClub upgraded shares of ChemoCentryx from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. ValuEngine lowered shares of ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. B. Riley began coverage on shares of ChemoCentryx in a research report on Friday, September 7th. They set a “neutral” rating and a $12.50 target price on the stock. JPMorgan Chase & Co. lowered shares of ChemoCentryx from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $14.00 to $15.00 in a research report on Tuesday, August 14th. Finally, HC Wainwright restated a “buy” rating and set a $20.00 target price on shares of ChemoCentryx in a research report on Monday, August 13th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. ChemoCentryx currently has a consensus rating of “Buy” and an average target price of $16.58.
Several institutional investors have recently modified their holdings of CCXI. Dimensional Fund Advisors LP bought a new stake in shares of ChemoCentryx during the 2nd quarter worth approximately $4,232,000. Acadian Asset Management LLC lifted its holdings in shares of ChemoCentryx by 42.4% during the 2nd quarter. Acadian Asset Management LLC now owns 743,298 shares of the biopharmaceutical company’s stock worth $9,789,000 after acquiring an additional 221,434 shares during the period. Fosun International Ltd bought a new stake in shares of ChemoCentryx during the 3rd quarter worth approximately $1,719,000. BlackRock Inc. lifted its holdings in shares of ChemoCentryx by 6.0% during the 2nd quarter. BlackRock Inc. now owns 2,721,938 shares of the biopharmaceutical company’s stock worth $35,847,000 after acquiring an additional 155,172 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of ChemoCentryx by 423.9% during the 2nd quarter. American Century Companies Inc. now owns 163,871 shares of the biopharmaceutical company’s stock worth $2,158,000 after acquiring an additional 132,592 shares during the period. 53.18% of the stock is owned by institutional investors.
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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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