ChemoCentryx, Inc. (CCXI) Downgraded by ValuEngine to Sell

ValuEngine cut shares of ChemoCentryx, Inc. (NASDAQ:CCXI) from a hold rating to a sell rating in a research note published on Saturday.

A number of other research analysts have also weighed in on CCXI. BidaskClub lowered ChemoCentryx from a buy rating to a hold rating in a report on Friday, August 18th. Zacks Investment Research lowered ChemoCentryx from a buy rating to a sell rating in a report on Friday, August 11th. Finally, Cowen and Company reissued a hold rating on shares of ChemoCentryx in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $9.00.

Shares of ChemoCentryx (CCXI) traded down 1.95% during midday trading on Friday, hitting $7.03. 140,361 shares of the stock traded hands. The firm’s 50 day moving average price is $7.50 and its 200 day moving average price is $7.83. The company’s market capitalization is $342.41 million. ChemoCentryx has a 12-month low of $5.52 and a 12-month high of $10.80.

ChemoCentryx (NASDAQ:CCXI) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $8.94 million during the quarter. Analysts expect that ChemoCentryx will post ($0.90) EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of CCXI. Bank of Montreal Can acquired a new position in ChemoCentryx in the 2nd quarter valued at $102,000. JPMorgan Chase & Co. acquired a new position in ChemoCentryx in the 2nd quarter valued at $104,000. Voya Investment Management LLC grew its holdings in ChemoCentryx by 22.8% in the 2nd quarter. Voya Investment Management LLC now owns 15,984 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,965 shares in the last quarter. Trexquant Investment LP grew its holdings in ChemoCentryx by 81.1% in the 2nd quarter. Trexquant Investment LP now owns 18,600 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 8,327 shares in the last quarter. Finally, State of Wisconsin Investment Board acquired a new position in ChemoCentryx in the 2nd quarter valued at $178,000. 50.12% of the stock is currently owned by hedge funds and other institutional investors.

About ChemoCentryx

ChemoCentryx, Inc is a biopharmaceutical company. The Company is engaged in developing new medications targeted at inflammatory disorders, autoimmune diseases and cancer. Each of its drug candidates focuses on a specific chemoattractant receptor that selectively blocks its negative inflammatory or suppressive response, leaving the rest of the immune system intact.

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