Analysts Expect ChemoCentryx Inc (NASDAQ:CCXI) Will Post Quarterly Sales of $8.20 Million

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Equities research analysts expect ChemoCentryx Inc (NASDAQ:CCXI) to announce $8.20 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for ChemoCentryx’s earnings, with the highest sales estimate coming in at $10.00 million and the lowest estimate coming in at $7.17 million. ChemoCentryx reported sales of $8.98 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.7%. The company is scheduled to announce its next earnings report on Thursday, November 14th.

On average, analysts expect that ChemoCentryx will report full-year sales of $32.06 million for the current fiscal year, with estimates ranging from $29.85 million to $36.00 million. For the next financial year, analysts expect that the company will post sales of $40.88 million, with estimates ranging from $30.00 million to $70.70 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow ChemoCentryx.

ChemoCentryx (NASDAQ:CCXI) last issued its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05). ChemoCentryx had a negative return on equity of 103.61% and a negative net margin of 144.27%. The company had revenue of $7.17 million during the quarter, compared to analyst estimates of $10.08 million.

Several brokerages have weighed in on CCXI. ValuEngine raised ChemoCentryx from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised ChemoCentryx from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $16.00 to $14.00 in a research report on Thursday, September 12th. Raymond James dropped their target price on ChemoCentryx from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research report on Thursday, June 6th. Canaccord Genuity decreased their price target on ChemoCentryx from $20.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, June 6th. Finally, BidaskClub raised ChemoCentryx from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $17.57.

Several large investors have recently added to or reduced their stakes in CCXI. Dimensional Fund Advisors LP grew its stake in shares of ChemoCentryx by 15.4% in the fourth 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of ChemoCentryx by 14.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,772 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 2,740 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of ChemoCentryx by 46,860.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,696 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 4,686 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of ChemoCentryx by 12.6% in the first quarter. SG Americas Securities LLC now owns 20,240 shares of the biopharmaceutical company’s stock worth $281,000 after purchasing an additional 2,269 shares in the last quarter. Finally, Spark Investment Management LLC grew its stake in shares of ChemoCentryx by 46.2% in the first 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 in the last quarter. 64.27% of the stock is owned by institutional investors.

NASDAQ CCXI traded down $0.05 during trading hours on Tuesday, hitting $7.58. The company had a trading volume of 257,390 shares, compared to its average volume of 463,600. ChemoCentryx has a fifty-two week low of $6.16 and a fifty-two week high of $14.98. The company has a quick ratio of 3.57, a current ratio of 3.57 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $7.09 and a 200-day simple moving average of $9.94. The firm has a market cap of $440.00 million, a P/E ratio of -9.97 and a beta of 1.20.

ChemoCentryx Company Profile

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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Earnings History and Estimates for ChemoCentryx (NASDAQ:CCXI)

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