JPMorgan Chase & Co. upgraded shares of ChemoCentryx (NASDAQ:CCXI) from a neutral rating to an overweight rating in a research note released on Thursday, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $14.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $16.00.
Several other equities analysts have also recently issued reports on the company. BidaskClub raised ChemoCentryx from a sell rating to a hold rating in a report on Wednesday, August 21st. Zacks Investment Research cut ChemoCentryx from a buy rating to a hold rating in a report on Friday, May 17th. Canaccord Genuity reduced their price objective on ChemoCentryx from $20.00 to $14.00 and set a buy rating for the company in a report on Thursday, June 6th. Raymond James reduced their price objective on ChemoCentryx from $24.00 to $17.00 and set a strong-buy rating for the company in a report on Thursday, June 6th. Finally, ValuEngine raised ChemoCentryx from a hold rating to a buy rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $17.57.
Shares of CCXI stock traded down $0.06 during midday trading on Thursday, hitting $7.58. The company had a trading volume of 522,419 shares, compared to its average volume of 465,381. The company’s 50 day simple moving average is $7.11 and its 200 day simple moving average is $10.01. ChemoCentryx has a 52-week low of $6.16 and a 52-week high of $14.98. The stock has a market cap of $451.63 million, a price-to-earnings ratio of -9.97 and a beta of 1.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.57 and a quick ratio of 3.57.
ChemoCentryx (NASDAQ:CCXI) last announced its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.05). ChemoCentryx had a negative net margin of 144.27% and a negative return on equity of 103.61%. The company had revenue of $7.17 million during the quarter, compared to analysts’ expectations of $10.08 million. Analysts anticipate that ChemoCentryx will post -1.02 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new position in shares of ChemoCentryx in the second quarter worth $29,000. Quantamental Technologies LLC acquired a new position in shares of ChemoCentryx in the second quarter worth $46,000. BNP Paribas Arbitrage SA raised its holdings in shares of ChemoCentryx by 46,860.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,696 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 4,686 shares during the last quarter. Aperio Group LLC acquired a new position in shares of ChemoCentryx in the second quarter worth $82,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of ChemoCentryx by 104.2% in the second quarter. JPMorgan Chase & Co. now owns 11,191 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 5,710 shares during the last quarter. 64.27% of the stock is owned by hedge funds and other 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.
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