HC Wainwright下调ChemoCentryx（NASDAQ：CCXI）评级至中性

ChemoCentryx (NASDAQ:CCXI – Get Rating) was downgraded by investment analysts at HC Wainwright from a "buy" rating to a "neutral" rating in a research report issued on Friday, The Fly reports. They currently have a $52.00 price objective on the biopharmaceutical company's stock, down from their previous price objective of $101.00. HC Wainwright's price target points to a potential upside of 2.93% from the company's previous close.

Several other brokerages have also issued reports on CCXI. Canaccord Genuity Group initiated coverage on shares of ChemoCentryx in a report on Thursday. They issued a "buy" rating and a $81.00 price target on the stock. StockNews.com lowered shares of ChemoCentryx from a "hold" rating to a "sell" rating in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, ChemoCentryx presently has an average rating of "Moderate Buy" and a consensus target price of $65.11.

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ChemoCentryx Price Performance

NASDAQ:CCXI opened at $50.52 on Friday. The stock has a market cap of $3.60 billion, a P/E ratio of -25.13 and a beta of 1.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.11 and a quick ratio of 5.07. The company has a fifty day moving average price of $25.29 and a 200 day moving average price of $24.41. ChemoCentryx has a one year low of $13.11 and a one year high of $50.90.

ChemoCentryx (NASDAQ:CCXI – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.25). The business had revenue of $5.46 million during the quarter, compared to the consensus estimate of $4.43 million. ChemoCentryx had a negative net margin of 514.64% and a negative return on equity of 47.24%. During the same period last year, the firm earned ($0.43) EPS. Analysts anticipate that ChemoCentryx will post -1.94 earnings per share for the current year.

Insiders Place Their Bets

In other ChemoCentryx news, Director James L. Tyree sold 3,863 shares of the stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $25.66, for a total transaction of $99,124.58. Following the sale, the director now owns 19,138 shares of the company's stock, valued at approximately $491,081.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Total Clarity Wealth Management Inc. acquired a new position in shares of ChemoCentryx in the 4th quarter valued at $29,000. CWM LLC acquired a new position in shares of ChemoCentryx in the 4th quarter valued at $37,000. UMB Bank N A MO acquired a new position in shares of ChemoCentryx in the 4th quarter valued at $37,000. Assetmark Inc. grew its holdings in shares of ChemoCentryx by 360.7% in the 2nd quarter. Assetmark Inc. now owns 1,760 shares of the biopharmaceutical company's stock valued at $44,000 after buying an additional 1,378 shares during the period. Finally, Prospera Financial Services Inc acquired a new position in shares of ChemoCentryx in the 1st quarter valued at $46,000. 82.28% of the stock is currently owned by institutional investors and hedge funds.

About ChemoCentryx

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ChemoCentryx, Inc, a biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. It offers TAVNEOS (avacopan), an orally administered selective C5aR inhibitor for the treatment of adult patients with severe active anti-neutrophil cytoplasmic autoantibody-associated vasculitis.

Further Reading

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