ChemoCentryx (NASDAQ:CCXI) had its price objective decreased by JPMorgan Chase & Co. from $64.00 to $61.00 in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has an overweight rating on the biopharmaceutical company’s stock.
A number of other brokerages have also recently weighed in on CCXI. BTIG Research initiated coverage on ChemoCentryx in a research note on Tuesday, June 16th. They set a buy rating and a $70.00 price objective for the company. SVB Leerink increased their price target on shares of ChemoCentryx from $54.00 to $65.00 and gave the company an outperform rating in a research report on Tuesday, May 12th. BidaskClub downgraded shares of ChemoCentryx from a strong-buy rating to a buy rating in a research report on Saturday, July 25th. HC Wainwright reissued a buy rating and set a $69.00 target price on shares of ChemoCentryx in a research report on Monday, May 18th. Finally, Piper Sandler lifted their price target on shares of ChemoCentryx from $54.00 to $70.00 and gave the stock an overweight rating in a report on Monday, May 18th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. ChemoCentryx has a consensus rating of Buy and an average price target of $68.70.
Shares of CCXI opened at $52.71 on Wednesday. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $57.54 and a 200-day moving average price of $50.31. ChemoCentryx has a fifty-two week low of $6.16 and a fifty-two week high of $65.43.
ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The business had revenue of $6.01 million during the quarter, compared to the consensus estimate of $8.90 million. ChemoCentryx had a negative return on equity of 100.55% and a negative net margin of 192.93%. As a group, sell-side analysts anticipate that ChemoCentryx will post -1.39 earnings per share for the current fiscal year.
In other ChemoCentryx news, major shareholder (International) Ltd Vifor sold 88,012 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $52.58, for a total transaction of $4,627,670.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas J. Schall sold 8,851 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.01, for a total value of $486,893.51. Following the completion of the transaction, the chief executive officer now directly owns 2,277,408 shares in the company, valued at $125,280,214.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,376,852 shares of company stock valued at $80,474,364. Corporate insiders own 9.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in shares of ChemoCentryx by 207.1% in the first quarter. BNP Paribas Arbitrage SA now owns 14,710 shares of the biopharmaceutical company’s stock worth $591,000 after acquiring an additional 9,920 shares during the period. Rhumbline Advisers grew its position in ChemoCentryx by 12.1% during the 1st quarter. Rhumbline Advisers now owns 60,932 shares of the biopharmaceutical company’s stock worth $2,448,000 after purchasing an additional 6,558 shares during the period. Geode Capital Management LLC raised its stake in shares of ChemoCentryx by 10.6% during the 1st quarter. Geode Capital Management LLC now owns 634,532 shares of the biopharmaceutical company’s stock valued at $25,495,000 after buying an additional 60,979 shares during the last quarter. AXA acquired a new position in shares of ChemoCentryx in the 1st quarter valued at about $1,141,000. Finally, Invesco Ltd. boosted its stake in shares of ChemoCentryx by 95.2% in the first quarter. Invesco Ltd. now owns 316,233 shares of the biopharmaceutical company’s stock worth $12,706,000 after buying an additional 154,265 shares during the last quarter. Institutional investors and hedge funds own 70.37% of the company’s stock.
ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. Its lead drug candidate is Avacopan, an orally-administered complement inhibitor of the complement C5a receptor (C5aR), which is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-associated vasculitis; and Phase IIb clinical trial, the AURORA trial for the treatment of patients with moderate-to-severe hidradenitis suppurativa, as well as patients with complement 3 glomerulopathy.
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