ChemoCentryx Inc (NASDAQ:CCXI) Receives Consensus Recommendation of “Buy” from Brokerages

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ChemoCentryx Inc (NASDAQ:CCXI) has been given an average recommendation of “Buy” by the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of equities analysts recently weighed in on CCXI shares. Canaccord Genuity reissued a “buy” rating and set a GBX 285 ($3.72) price objective on shares of in a report on Thursday, June 6th. BidaskClub cut Virtu Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 12th. B. Riley started coverage on Victory Capital in a report on Wednesday, March 27th. They set a “buy” rating and a $20.00 price objective on the stock. HC Wainwright raised their price objective on Applied Genetic Technologies from $5.75 to $12.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Zacks Investment Research raised HANNOVER RUECK/S from a “sell” rating to a “hold” rating in a report on Friday, May 17th.

Shares of CCXI traded down $0.16 during trading hours on Friday, reaching $8.11. 12,331 shares of the company’s stock traded hands, compared to its average volume of 595,179. The company has a market capitalization of $474.27 million, a PE ratio of -10.61 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.43 and a current ratio of 3.43. The firm’s 50 day simple moving average is $9.18. ChemoCentryx has a 12 month low of $8.05 and a 12 month high of $14.98.

ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.01. The firm had revenue of $8.33 million during the quarter, compared to the consensus estimate of $11.37 million. ChemoCentryx had a negative return on equity of 111.15% and a negative net margin of 97.22%. Analysts expect that ChemoCentryx will post -0.92 earnings per share for the current year.

In related news, Director Geoffrey M. Parker sold 12,815 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $12.00, for a total transaction of $153,780.00. Following the transaction, the director now directly owns 85,014 shares of the company’s stock, valued at approximately $1,020,168. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. FMR LLC increased its stake in ChemoCentryx by 796.2% in the 1st quarter. FMR LLC now owns 5,774,432 shares of the biopharmaceutical company’s stock worth $80,207,000 after purchasing an additional 5,130,127 shares during the period. Wasatch Advisors Inc. increased its stake in ChemoCentryx by 6.1% in the 1st quarter. Wasatch Advisors Inc. now owns 2,464,664 shares of the biopharmaceutical company’s stock worth $34,234,000 after purchasing an additional 141,341 shares during the period. Dimensional Fund Advisors LP increased its stake in ChemoCentryx by 15.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 632,061 shares of the biopharmaceutical company’s stock worth $6,896,000 after purchasing an additional 84,290 shares during the period. Geode Capital Management LLC increased its stake in ChemoCentryx by 33.0% in the 4th quarter. Geode Capital Management LLC now owns 333,917 shares of the biopharmaceutical company’s stock worth $3,642,000 after purchasing an additional 82,918 shares during the period. Finally, Spark Investment Management LLC increased its stake in ChemoCentryx by 46.2% in the 1st quarter. Spark Investment Management LLC now owns 184,500 shares of the biopharmaceutical company’s stock worth $2,562,000 after purchasing an additional 58,300 shares during the period. 58.12% of the stock is currently owned by institutional investors and hedge funds.

About ChemoCentryx

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.

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Analyst Recommendations for ChemoCentryx (NASDAQ:CCXI)

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