Research analysts at Piper Jaffray Companies began coverage on shares of ChemoCentryx (NASDAQ:CCXI) in a research report issued on Monday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $20.00 price target on the biopharmaceutical company’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 72.27% from the company’s current price.
CCXI has been the topic of a number of other research reports. Zacks Investment Research raised ChemoCentryx from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, January 9th. BidaskClub upgraded ChemoCentryx from a “hold” rating to a “buy” rating in a research report on Wednesday, November 28th. Canaccord Genuity boosted their price objective on ChemoCentryx from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, November 12th. B. Riley initiated coverage on ChemoCentryx in a research report on Tuesday, January 8th. They set a “neutral” rating and a $12.50 price objective for the company. Finally, ValuEngine upgraded ChemoCentryx from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 25th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $15.83.
Shares of ChemoCentryx stock traded up $0.27 on Monday, reaching $11.61. 284 shares of the stock were exchanged, compared to its average volume of 321,751. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.69. ChemoCentryx has a twelve month low of $8.35 and a twelve month high of $15.08. The company has a market capitalization of $572.96 million, a price-to-earnings ratio of 32.35 and a beta of 1.43.
ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.03. The company had revenue of $8.98 million during the quarter, compared to analysts’ expectations of $11.55 million. ChemoCentryx had a return on equity of 32.16% and a net margin of 13.88%. Research analysts anticipate that ChemoCentryx will post -0.83 EPS for the current fiscal year.
In other ChemoCentryx news, CFO Susan M. Kanaya sold 37,893 shares of the business’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $12.08, for a total transaction of $457,747.44. Following the sale, the chief financial officer now directly owns 110,746 shares of the company’s stock, valued at approximately $1,337,811.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Treasurer Markus J. Cappel sold 5,069 shares of the business’s stock in a transaction on Monday, January 7th. The shares were sold at an average price of $12.07, for a total transaction of $61,182.83. Following the sale, the treasurer now directly owns 40,510 shares in the company, valued at $488,955.70. The disclosure for this sale can be found here. Insiders have sold a total of 78,541 shares of company stock valued at $946,573 in the last quarter. Insiders own 14.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Strs Ohio raised its stake in ChemoCentryx by 6.5% during the 4th quarter. Strs Ohio now owns 55,800 shares of the biopharmaceutical company’s stock valued at $608,000 after purchasing an additional 3,400 shares during the period. P.A.W. Capital Corp raised its stake in ChemoCentryx by 5.9% during the 3rd quarter. P.A.W. Capital Corp now owns 90,000 shares of the biopharmaceutical company’s stock valued at $1,138,000 after purchasing an additional 5,000 shares during the period. American Century Companies Inc. raised its stake in ChemoCentryx by 3.2% during the 3rd quarter. American Century Companies Inc. now owns 169,037 shares of the biopharmaceutical company’s stock valued at $2,137,000 after purchasing an additional 5,166 shares during the period. Schwab Charles Investment Management Inc. raised its stake in ChemoCentryx by 14.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 49,177 shares of the biopharmaceutical company’s stock valued at $648,000 after purchasing an additional 6,077 shares during the period. Finally, Algert Global LLC raised its stake in ChemoCentryx by 6.8% during the 3rd quarter. Algert Global LLC now owns 102,281 shares of the biopharmaceutical company’s stock valued at $1,293,000 after purchasing an additional 6,497 shares during the period. 53.72% of the stock is currently owned by institutional investors.
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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