Brokerages Set ChemoCentryx Inc (CCXI) Target Price at $20.33

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ChemoCentryx Inc (NASDAQ:CCXI) has earned a consensus rating of “Buy” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $20.33.

CCXI has been the topic of several recent analyst reports. Zacks Investment Research upgraded ChemoCentryx from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, March 13th. ValuEngine downgraded ChemoCentryx from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 5th. B. Riley upgraded ChemoCentryx from a “neutral” rating to a “buy” rating and increased their price target for the stock from $12.50 to $22.00 in a report on Wednesday, March 27th. Raymond James set a $22.00 price objective on ChemoCentryx and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of ChemoCentryx in a report on Tuesday, May 7th.

Shares of NASDAQ CCXI opened at $11.71 on Thursday. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.24. ChemoCentryx has a fifty-two week low of $9.07 and a fifty-two week high of $14.98. The company has a market capitalization of $679.74 million, a PE ratio of -15.41 and a beta of 1.25.

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

In other ChemoCentryx news, CFO Susan M. Kanaya sold 35,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $13.05, for a total transaction of $456,750.00. Following the transaction, the chief financial officer now directly owns 110,890 shares in the company, valued at approximately $1,447,114.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rajinder Singh sold 33,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $12.96, for a total value of $427,680.00. Following the transaction, the senior vice president now owns 43,614 shares in the company, valued at $565,237.44. The disclosure for this sale can be found here. Insiders have sold a total of 233,755 shares of company stock worth $3,160,200 over the last 90 days. 12.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SEI Investments Co increased its holdings in ChemoCentryx by 1.7% during the 1st quarter. SEI Investments Co now owns 70,594 shares of the biopharmaceutical company’s stock worth $986,000 after purchasing an additional 1,166 shares during the period. Raymond James & Associates increased its holdings in ChemoCentryx by 14.0% during the 1st quarter. Raymond James & Associates now owns 13,874 shares of the biopharmaceutical company’s stock worth $193,000 after purchasing an additional 1,700 shares during the period. Kore Private Wealth LLC purchased a new position in ChemoCentryx during the 1st quarter worth $28,000. SG Americas Securities LLC boosted its position in ChemoCentryx by 12.6% during the 1st quarter. SG Americas Securities LLC now owns 20,240 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 2,269 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in ChemoCentryx by 14.4% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,772 shares of the biopharmaceutical company’s stock valued at $302,000 after acquiring an additional 2,740 shares in the last quarter. Institutional investors own 59.24% of the company’s stock.

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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Analyst Recommendations for ChemoCentryx (NASDAQ:CCXI)

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