ChemoCentryx, Inc. (CCXI) Rating Increased 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 brokerage presently has a $9.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 16.43% from the company’s previous close.

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 research analysts have also issued research reports about the stock. BidaskClub lowered shares of ChemoCentryx from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Cowen and Company restated a “hold” rating on shares of ChemoCentryx in a research note on Tuesday, August 8th.

ChemoCentryx (NASDAQ CCXI) traded down 4.21% during trading on Tuesday, reaching $7.73. The company’s stock had a trading volume of 81,460 shares. The firm has a 50 day moving average of $7.31 and a 200 day moving average of $7.82. ChemoCentryx has a 52 week low of $5.19 and a 52 week high of $10.80. The stock’s market capitalization is $376.50 million.

ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The business had revenue of $8.94 million for the quarter. Analysts expect that ChemoCentryx will post ($0.90) EPS for the current year.

TRADEMARK VIOLATION WARNING: “ChemoCentryx, Inc. (CCXI) Rating Increased to Buy at Zacks Investment Research” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/chemocentryx-inc-ccxi-rating-increased-to-buy-at-zacks-investment-research.html.

In related news, insider Petrus Bekker sold 30,000 shares of the firm’s stock in a transaction that occurred 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 owns 65,963 shares in the company, valued at $658,310.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 108,263 shares of company stock worth $1,078,387 in the last 90 days. 26.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in shares of ChemoCentryx by 1.7% during the second quarter. American Century Companies Inc. now owns 41,442 shares of the biopharmaceutical company’s stock valued at $388,000 after acquiring an additional 698 shares during the period. Wells Fargo & Company MN increased its stake in shares of ChemoCentryx by 3.2% during the second quarter. Wells Fargo & Company MN now owns 23,595 shares of the biopharmaceutical company’s stock valued at $221,000 after acquiring an additional 729 shares during the period. Teachers Advisors LLC increased its stake in shares of ChemoCentryx by 3.9% during the second quarter. Teachers Advisors LLC now owns 41,878 shares of the biopharmaceutical company’s stock valued at $392,000 after acquiring an additional 1,590 shares during the period. The Manufacturers Life Insurance Company increased its stake 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 valued at $211,000 after acquiring an additional 2,852 shares during the period. Finally, Voya Investment Management LLC increased its stake 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 valued at $150,000 after acquiring an additional 2,965 shares during the period. Institutional investors and hedge funds own 50.12% of the company’s stock.

About ChemoCentryx

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 neg

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 research analysts have also issued research reports about the stock. BidaskClub lowered shares of ChemoCentryx from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Cowen and Company restated a “hold” rating on shares of ChemoCentryx in a research note on Tuesday, August 8th.

ChemoCentryx (NASDAQ CCXI) traded down 4.21% during trading on Tuesday, reaching $7.73. The company’s stock had a trading volume of 81,460 shares. The firm has a 50 day moving average of $7.31 and a 200 day moving average of $7.82. ChemoCentryx has a 52 week low of $5.19 and a 52 week high of $10.80. The stock’s market capitalization is $376.50 million.

ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02). The business had revenue of $8.94 million for the quarter. Analysts expect that ChemoCentryx will post ($0.90) EPS for the current year.

TRADEMARK VIOLATION WARNING: “ChemoCentryx, Inc. (CCXI) Rating Increased to Buy at Zacks Investment Research” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/chemocentryx-inc-ccxi-rating-increased-to-buy-at-zacks-investment-research.html.

In related news, insider Petrus Bekker sold 30,000 shares of the firm’s stock in a transaction that occurred 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 owns 65,963 shares in the company, valued at $658,310.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 108,263 shares of company stock worth $1,078,387 in the last 90 days. 26.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in shares of ChemoCentryx by 1.7% during the second quarter. American Century Companies Inc. now owns 41,442 shares of the biopharmaceutical company’s stock valued at $388,000 after acquiring an additional 698 shares during the period. Wells Fargo & Company MN increased its stake in shares of ChemoCentryx by 3.2% during the second quarter. Wells Fargo & Company MN now owns 23,595 shares of the biopharmaceutical company’s stock valued at $221,000 after acquiring an additional 729 shares during the period. Teachers Advisors LLC increased its stake in shares of ChemoCentryx by 3.9% during the second quarter. Teachers Advisors LLC now owns 41,878 shares of the biopharmaceutical company’s stock valued at $392,000 after acquiring an additional 1,590 shares during the period. The Manufacturers Life Insurance Company increased its stake 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 valued at $211,000 after acquiring an additional 2,852 shares during the period. Finally, Voya Investment Management LLC increased its stake 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 valued at $150,000 after acquiring an additional 2,965 shares during the period. Institutional investors and hedge funds own 50.12% of the company’s stock.

About ChemoCentryx

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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