ChemoCentryx (NASDAQ:CCXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $14.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would indicate a potential downside of 0.14% from the stock’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. “
A number of other analysts have also recently commented on the stock. BidaskClub upgraded shares of ChemoCentryx from a “strong sell” rating to a “sell” rating in a research note on Saturday, March 3rd. JPMorgan Chase & Co. restated an “overweight” rating and set a $16.00 price target (up from $13.00) on shares of ChemoCentryx in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $15.00.
ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings results on Friday, March 9th. The biopharmaceutical company reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $1.02. The business had revenue of $56.30 million for the quarter, compared to analysts’ expectations of $9.03 million. equities research analysts forecast that ChemoCentryx will post -1.25 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in CCXI. Unterberg Capital LLC purchased a new stake in ChemoCentryx in the 4th quarter worth approximately $595,000. OxFORD Asset Management LLP lifted its stake in ChemoCentryx by 37.3% in the 3rd quarter. OxFORD Asset Management LLP now owns 246,369 shares of the biopharmaceutical company’s stock worth $1,853,000 after purchasing an additional 66,910 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in ChemoCentryx in the 3rd quarter worth approximately $414,000. Goldman Sachs Group Inc. lifted its stake in ChemoCentryx by 21.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 267,066 shares of the biopharmaceutical company’s stock worth $1,589,000 after purchasing an additional 46,626 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in ChemoCentryx by 16.9% in the 4th quarter. Millennium Management LLC now owns 255,831 shares of the biopharmaceutical company’s stock worth $1,522,000 after purchasing an additional 37,069 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.
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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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