ChemoCentryx (NASDAQ:CCXI) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.03, Fidelity Earnings reports. The company had revenue of $8.98 million for the quarter, compared to analyst estimates of $11.55 million. ChemoCentryx had a net margin of 18.69% and a return on equity of 39.31%.
Shares of NASDAQ:CCXI traded down $1.65 during midday trading on Friday, hitting $10.05. 340,471 shares of the stock were exchanged, compared to its average volume of 164,306. The company has a market capitalization of $603.72 million, a PE ratio of 27.92 and a beta of 1.78. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 0.51. ChemoCentryx has a twelve month low of $5.42 and a twelve month high of $15.08.
Several research analysts have recently issued reports on the company. BidaskClub raised ChemoCentryx from a “hold” rating to a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research downgraded ChemoCentryx from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 16th. JPMorgan Chase & Co. downgraded ChemoCentryx from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $15.00 in a research note on Tuesday, August 14th. B. Riley assumed coverage on ChemoCentryx in a research note on Friday, September 7th. They set a “neutral” rating and a $12.50 price target for the company. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price target on shares of ChemoCentryx in a research note on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. ChemoCentryx currently has a consensus rating of “Buy” and an average price target of $16.58.
In related news, insider Markus J. Cappel sold 30,237 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $11.01, for a total value of $332,909.37. Following the completion of the transaction, the insider now owns 54,063 shares of the company’s stock, valued at approximately $595,233.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas J. Schall sold 7,211 shares of the business’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $12.00, for a total transaction of $86,532.00. Following the completion of the transaction, the insider now directly owns 2,192,205 shares of the company’s stock, valued at approximately $26,306,460. The disclosure for this sale can be found here. Insiders have sold a total of 7,380,940 shares of company stock valued at $86,264,863 in the last ninety days. Corporate insiders own 14.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CCXI. JPMorgan Chase & Co. raised its stake in ChemoCentryx by 278.8% in the 1st quarter. JPMorgan Chase & Co. now owns 67,861 shares of the biopharmaceutical company’s stock valued at $923,000 after purchasing an additional 49,944 shares during the last quarter. Russell Investments Group Ltd. raised its stake in ChemoCentryx by 57.5% in the 1st quarter. Russell Investments Group Ltd. now owns 65,071 shares of the biopharmaceutical company’s stock valued at $885,000 after purchasing an additional 23,745 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in ChemoCentryx by 140.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 20,352 shares of the biopharmaceutical company’s stock valued at $276,000 after purchasing an additional 11,902 shares during the last quarter. Jane Street Group LLC acquired a new position in ChemoCentryx in the 1st quarter valued at about $196,000. Finally, Millennium Management LLC raised its stake in ChemoCentryx by 26.7% in the 1st quarter. Millennium Management LLC now owns 324,112 shares of the biopharmaceutical company’s stock valued at $4,408,000 after purchasing an additional 68,281 shares during the last quarter. 53.18% of the stock is owned by hedge funds and other institutional investors.
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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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