ChemoCentryx (NASDAQ:CCXI) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday, ValuEngine reports.
A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. upgraded shares of ChemoCentryx from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $16.00 to $14.00 in a research note on Thursday, September 12th. BidaskClub upgraded shares of ChemoCentryx from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research downgraded shares of ChemoCentryx from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $17.57.
Shares of CCXI stock opened at $7.59 on Thursday. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $7.06 and a 200 day moving average price of $9.51. The company has a market cap of $448.90 million, a P/E ratio of -9.99 and a beta of 1.15. ChemoCentryx has a 12 month low of $6.16 and a 12 month high of $14.98.
ChemoCentryx (NASDAQ:CCXI) last issued its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.05). The firm had revenue of $7.17 million for the quarter, compared to analyst estimates of $10.08 million. ChemoCentryx had a negative return on equity of 103.61% and a negative net margin of 144.27%. On average, equities analysts forecast that ChemoCentryx will post -1.04 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new position in shares of ChemoCentryx during the second quarter worth about $29,000. Quantamental Technologies LLC purchased a new position in shares of ChemoCentryx during the second quarter worth about $46,000. Aperio Group LLC purchased a new position in shares of ChemoCentryx during the second quarter worth about $82,000. JPMorgan Chase & Co. grew its holdings in shares of ChemoCentryx by 104.2% during the second quarter. JPMorgan Chase & Co. now owns 11,191 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 5,710 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of ChemoCentryx during the second quarter worth about $111,000. 64.27% of the stock is currently owned by institutional investors.
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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