Brokerages forecast that ChemoCentryx Inc (NASDAQ:CCXI) will post sales of $10.08 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for ChemoCentryx’s earnings, with the lowest sales estimate coming in at $8.00 million and the highest estimate coming in at $15.00 million. ChemoCentryx reported sales of $15.02 million in the same quarter last year, which would suggest a negative year over year growth rate of 32.9%. The business is expected to announce its next quarterly earnings report on Thursday, August 8th.
According to Zacks, analysts expect that ChemoCentryx will report full year sales of $38.99 million for the current financial year, with estimates ranging from $32.33 million to $53.33 million. For the next financial year, analysts anticipate that the business will post sales of $49.07 million, with estimates ranging from $31.48 million to $72.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for ChemoCentryx.
ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) 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 business had revenue of $8.33 million for the quarter, compared to analysts’ expectations of $11.37 million.
A number of research analysts recently weighed in on CCXI shares. Svb Leerink reiterated an “outperform” rating on shares of ChemoCentryx in a report on Thursday, February 14th. Zacks Investment Research lowered ChemoCentryx from a “buy” rating to a “hold” rating in a research note on Tuesday, February 26th. ValuEngine lowered ChemoCentryx from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 5th. TheStreet downgraded ChemoCentryx from a “c” rating to a “d-” rating in a report on Monday, March 18th. Finally, B. Riley upgraded ChemoCentryx from a “neutral” rating to a “buy” rating and lifted their price target for the company from $12.50 to $22.00 in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $17.71.
In other ChemoCentryx news, CFO Susan M. Kanaya sold 35,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $13.05, for a total transaction of $456,750.00. Following the sale, the chief financial officer now directly owns 110,890 shares of the company’s stock, valued at approximately $1,447,114.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas J. Schall sold 5,755 shares of the company’s stock in a transaction on Friday, March 29th. The stock was sold at an average price of $14.00, for a total transaction of $80,570.00. Following the completion of the transaction, the chief executive officer now directly owns 2,234,610 shares in the company, valued at $31,284,540. The disclosure for this sale can be found here. Insiders have sold 246,570 shares of company stock valued at $3,313,980 over the last ninety days. Corporate insiders own 12.20% of the company’s stock.
Large investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in ChemoCentryx by 796.2% during the first quarter. FMR LLC now owns 5,774,432 shares of the biopharmaceutical company’s stock valued at $80,207,000 after acquiring an additional 5,130,127 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of ChemoCentryx by 89.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,194,990 shares of the biopharmaceutical company’s stock valued at $16,597,000 after purchasing an additional 562,929 shares in the last quarter. Sio Capital Management LLC increased its holdings in shares of ChemoCentryx by 213.2% in the first quarter. Sio Capital Management LLC now owns 530,175 shares of the biopharmaceutical company’s stock valued at $7,364,000 after purchasing an additional 360,918 shares in the last quarter. Renaissance Technologies LLC boosted its stake in ChemoCentryx by 28.3% in the first quarter. Renaissance Technologies LLC now owns 1,133,254 shares of the biopharmaceutical company’s stock valued at $15,741,000 after acquiring an additional 249,873 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its position in shares of ChemoCentryx by 6.1% during the first quarter. Wasatch Advisors Inc. now owns 2,464,664 shares of the biopharmaceutical company’s stock worth $34,234,000 after purchasing an additional 141,341 shares in the last quarter. Hedge funds and other institutional investors own 58.14% of the company’s stock.
ChemoCentryx stock traded down $0.27 during midday trading on Tuesday, reaching $8.41. The stock had a trading volume of 4,907 shares, compared to its average volume of 554,428. ChemoCentryx has a twelve month low of $8.06 and a twelve month high of $14.98. The stock has a market capitalization of $504.44 million, a P/E ratio of -11.04 and a beta of 1.37. 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, 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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