ChemoCentryx, Inc. (NASDAQ:CCXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $12.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 20.24% from the company’s current price.

According to Zacks, “ChemoCentryx, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics to treat autoimmune diseases, inflammatory disorders and cancer. ChemoCentryx, Inc. is headquartered in Mountain View, California. “

ChemoCentryx (CCXI) traded down 4.86% during trading on Monday, hitting $9.98. The stock had a trading volume of 332,818 shares. The company’s market cap is $480.77 million. ChemoCentryx has a 52 week low of $3.95 and a 52 week high of $10.68. The stock has a 50-day moving average price of $7.46 and a 200-day moving average price of $7.33.

ChemoCentryx (NASDAQ:CCXI) last released its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.14. The company had revenue of $8.23 million during the quarter. Equities analysts predict that ChemoCentryx will post ($0.69) EPS for the current year.

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In related news, insider Petrus Bekker sold 76,013 shares of the stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $9.95, for a total value of $756,329.35. Following the completion of the transaction, the insider now owns 65,963 shares of the company’s stock, valued at $656,331.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger C. Lucas sold 4,000 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $7.31, for a total transaction of $29,240.00. Following the completion of the transaction, the director now directly owns 62,822 shares of the company’s stock, valued at approximately $459,228.82. The disclosure for this sale can be found here. Insiders sold 225,399 shares of company stock valued at $2,163,943 in the last three months. Company insiders own 26.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CCXI. Franklin Resources Inc. raised its position in ChemoCentryx by 22.4% in the first quarter. Franklin Resources Inc. now owns 2,165,397 shares of the biopharmaceutical company’s stock valued at $5,392,000 after buying an additional 396,900 shares during the period. California State Teachers Retirement System raised its position in ChemoCentryx by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 51,873 shares of the biopharmaceutical company’s stock valued at $420,000 after buying an additional 984 shares during the period. Baker BROS. Advisors LP acquired a new position in ChemoCentryx during the third quarter valued at about $296,000. Goldman Sachs Group Inc. raised its position in ChemoCentryx by 243.2% in the first quarter. Goldman Sachs Group Inc. now owns 66,714 shares of the biopharmaceutical company’s stock valued at $166,000 after buying an additional 47,275 shares during the period. Finally, Vivo Capital LLC acquired a new position in ChemoCentryx during the first quarter valued at about $2,211,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

About ChemoCentryx

ChemoCentryx, Inc is a biopharmaceutical company. The Company is engaged in developing new medications targeted at inflammatory disorders, autoimmune diseases and cancer. Each of its drug candidates focuses on a specific chemoattractant receptor that selectively blocks its negative inflammatory or suppressive response, leaving the rest of the immune system intact.

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