ChemoCentryx, Inc. (CCXI) Lifted to Buy at Zacks Investment Research
ChemoCentryx, Inc. (NASDAQ:CCXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $9.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 16.43% 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. “
Several other equities research analysts also recently issued reports on CCXI. BidaskClub downgraded shares of ChemoCentryx from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Cowen and Company reiterated a “hold” rating on shares of ChemoCentryx in a research note on Tuesday, August 8th.
ChemoCentryx (CCXI) traded down 4.21% during mid-day trading on Tuesday, hitting $7.73. 81,460 shares of the stock traded hands. The firm’s 50-day moving average is $7.31 and its 200-day moving average is $7.82. The company’s market cap is $376.50 million. ChemoCentryx has a 12-month low of $5.19 and a 12-month high of $10.80.
ChemoCentryx (NASDAQ:CCXI) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $8.94 million for the quarter. Equities research analysts expect that ChemoCentryx will post ($0.90) EPS for the current year.
In other news, insider Petrus Bekker sold 30,000 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $9.98, for a total transaction of $299,400.00. Following the transaction, the insider now directly owns 65,963 shares of the company’s stock, valued at $658,310.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 108,263 shares of company stock worth $1,078,387. Corporate insiders own 26.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wasatch Advisors Inc. lifted its position in shares of ChemoCentryx by 10.3% during the second quarter. Wasatch Advisors Inc. now owns 2,255,438 shares of the biopharmaceutical company’s stock worth $21,111,000 after purchasing an additional 210,039 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of ChemoCentryx by 14.5% during the second quarter. The Manufacturers Life Insurance Company now owns 22,514 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 2,852 shares in the last quarter. State Street Corp lifted its position in shares of ChemoCentryx by 7.0% during the second quarter. State Street Corp now owns 429,088 shares of the biopharmaceutical company’s stock worth $4,016,000 after purchasing an additional 27,896 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of ChemoCentryx by 22.8% during the second quarter. Voya Investment Management LLC now owns 15,984 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 2,965 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of ChemoCentryx by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,212,074 shares of the biopharmaceutical company’s stock worth $11,345,000 after purchasing an additional 13,344 shares in the last quarter. 50.12% of the stock is currently owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for ChemoCentryx Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChemoCentryx Inc. and related companies with MarketBeat.com's FREE daily email newsletter.