ChemoCentryx, Inc. (CCXI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of ChemoCentryx, Inc. (NASDAQ:CCXI) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $8.25 price objective on the biopharmaceutical company’s stock.

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. “

CCXI has been the topic of several other reports. Cowen and Company reiterated a hold rating on shares of ChemoCentryx in a research note on Tuesday, August 8th. BidaskClub lowered shares of ChemoCentryx from a buy rating to a hold rating in a research note on Friday, August 18th. Finally, ValuEngine lowered shares of ChemoCentryx from a hold rating to a sell rating in a research note on Saturday, October 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $8.25.

Shares of ChemoCentryx (NASDAQ CCXI) traded up $0.08 on Friday, hitting $7.49. 59,000 shares of the stock were exchanged, compared to its average volume of 141,167. ChemoCentryx has a fifty-two week low of $6.13 and a fifty-two week high of $10.80.

ChemoCentryx (NASDAQ:CCXI) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.13. sell-side analysts anticipate that ChemoCentryx will post -0.67 earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in CCXI. TIAA CREF Investment Management LLC raised its stake in ChemoCentryx by 37.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 128,546 shares of the biopharmaceutical company’s stock worth $936,000 after acquiring an additional 35,049 shares in the last quarter. Vanguard Group Inc. raised its stake in ChemoCentryx by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 1,198,730 shares of the biopharmaceutical company’s stock worth $8,727,000 after acquiring an additional 47,475 shares in the last quarter. Geode Capital Management LLC raised its stake in ChemoCentryx by 4.6% during the 1st quarter. Geode Capital Management LLC now owns 196,708 shares of the biopharmaceutical company’s stock worth $1,432,000 after acquiring an additional 8,697 shares in the last quarter. Renaissance Technologies LLC raised its stake in ChemoCentryx by 31.0% during the 1st quarter. Renaissance Technologies LLC now owns 616,581 shares of the biopharmaceutical company’s stock worth $4,489,000 after acquiring an additional 146,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in ChemoCentryx by 35.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 79,299 shares of the biopharmaceutical company’s stock worth $577,000 after acquiring an additional 20,955 shares in the last quarter. Hedge funds and other institutional investors 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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