Zacks Investment Research Lowers ChemoCentryx, Inc. (CCXI) to Hold
ChemoCentryx, Inc. (NASDAQ:CCXI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
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. “
Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of ChemoCentryx from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub downgraded shares of ChemoCentryx from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Cowen and Company reissued a “hold” rating on shares of ChemoCentryx in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. ChemoCentryx currently has a consensus rating of “Hold” and a consensus price target of $8.25.
ChemoCentryx (NASDAQ:CCXI) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.13. analysts forecast that ChemoCentryx will post -0.67 EPS for the current year.
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Institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of ChemoCentryx in the 2nd quarter valued at $102,000. JPMorgan Chase & Co. purchased a new position in ChemoCentryx during the 2nd quarter worth $104,000. Voya Investment Management LLC raised its position in ChemoCentryx by 22.8% during the 2nd quarter. Voya Investment Management LLC now owns 15,984 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 2,965 shares during the last quarter. Trexquant Investment LP raised its position in ChemoCentryx by 81.1% during the 2nd quarter. Trexquant Investment LP now owns 18,600 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 8,327 shares during the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in ChemoCentryx during the 2nd quarter worth $178,000. Institutional investors and hedge funds own 49.15% of the company’s stock.
ChemoCentryx Company Profile
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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