ChemoCentryx, Inc. (CCXI) Given Hold Rating at Cowen and Company
ChemoCentryx, Inc. (NASDAQ:CCXI)‘s stock had its “hold” rating reaffirmed by equities researchers at Cowen and Company in a note issued to investors on Tuesday.
The analysts wrote, “ChemoCentryx reported Q2 financials, including a net loss of $9.2MM and a June 30.””
Separately, Zacks Investment Research raised ChemoCentryx from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Monday, July 17th.
Shares of ChemoCentryx (NASDAQ:CCXI) traded down 2.41% on Tuesday, hitting $10.14. The company had a trading volume of 126,434 shares. The company has a 50 day moving average price of $9.47 and a 200 day moving average price of $7.68. ChemoCentryx has a 1-year low of $3.95 and a 1-year high of $10.80. The firm’s market capitalization is $488.47 million.
ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.14. The company had revenue of $8.23 million for the quarter. On average, equities analysts forecast that ChemoCentryx will post ($0.69) earnings per share for the current fiscal year.
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In related news, insider Petrus Bekker sold 19,877 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $9.30, for a total transaction of $184,856.10. Following the sale, the insider now owns 79,426 shares of the company’s stock, valued at approximately $738,661.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 223,649 shares of company stock worth $2,157,360 in the last three months. 26.80% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new stake in ChemoCentryx during the second quarter valued at $102,000. Trexquant Investment LP boosted its stake in ChemoCentryx by 81.1% in the second quarter. Trexquant Investment LP now owns 18,600 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 8,327 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in ChemoCentryx during the second quarter valued at $178,000. Dynamic Technology Lab Private Ltd acquired a new stake in ChemoCentryx during the first quarter valued at $189,000. Finally, First Quadrant L P CA acquired a new stake in ChemoCentryx during the second quarter valued at $219,000. 49.57% of the stock is currently owned by hedge funds and other institutional investors.
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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