ChemoCentryx (CCXI) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of ChemoCentryx (NASDAQ:CCXI) from a buy rating to a hold rating in a report published on Thursday, March 15th.

According to Zacks, “ChemoCentryx, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics to treat autoimmune diseases, inflammatory disorders and cancer. ChemoCentryx, Inc. is headquartered in Mountain View, California. “

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CCXI has been the subject of several other reports. JPMorgan Chase reissued an overweight rating and set a $16.00 price target (up from $13.00) on shares of ChemoCentryx in a research report on Tuesday, March 13th. BidaskClub raised shares of ChemoCentryx from a sell rating to a hold rating in a research report on Wednesday, March 14th. Finally, ValuEngine raised shares of ChemoCentryx from a hold rating to a buy rating in a research report on Wednesday, March 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $15.00.

CCXI stock traded down $0.33 during mid-day trading on Thursday, reaching $12.33. 150,879 shares of the stock traded hands, compared to its average volume of 388,506. The company has a quick ratio of 5.46, a current ratio of 5.46 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $619.34, a price-to-earnings ratio of 34.25 and a beta of 1.58. ChemoCentryx has a one year low of $5.42 and a one year high of $15.08.

ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings results on Friday, March 9th. The biopharmaceutical company reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $1.02. The company had revenue of $56.30 million during the quarter, compared to the consensus estimate of $9.03 million. equities research analysts expect that ChemoCentryx will post -1.18 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of CCXI. Voya Investment Management LLC grew its stake 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 acquiring an additional 2,965 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in ChemoCentryx by 44.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 26,016 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 8,017 shares during the period. Landscape Capital Management L.L.C. grew its stake in ChemoCentryx by 35.4% in the 4th quarter. Landscape Capital Management L.L.C. now owns 33,764 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 8,825 shares during the period. The Manufacturers Life Insurance Company grew its stake in ChemoCentryx by 14.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,514 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 2,852 shares during the period. Finally, Wells Fargo & Company MN grew its stake in ChemoCentryx by 3.2% in the 2nd quarter. Wells Fargo & Company MN now owns 23,595 shares of the biopharmaceutical company’s stock valued at $221,000 after acquiring an additional 729 shares during the period. 48.39% of the stock is currently owned by institutional investors and hedge funds.

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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 (AAV).

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