ChemoCentryx (CCXI) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of ChemoCentryx (NASDAQ:CCXI) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

CCXI has been the subject of a number of other research reports. BidaskClub raised shares of ChemoCentryx from a strong sell rating to a sell rating in a research report on Saturday, March 3rd. Zacks Investment Research raised shares of ChemoCentryx from a hold rating to a buy rating and set a $14.00 target price for the company in a research report on Wednesday, March 14th. Finally, JPMorgan Chase reissued an overweight rating and set a $16.00 target price (up previously from $13.00) on shares of ChemoCentryx in a research report on Tuesday, March 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $15.00.

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CCXI opened at $10.83 on Tuesday. The company has a market cap of $540.28, a P/E ratio of 30.07 and a beta of 1.58. ChemoCentryx has a 1 year low of $5.42 and a 1 year high of $15.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.46 and a quick ratio of 5.46.

ChemoCentryx (NASDAQ:CCXI) last posted its earnings results on Friday, March 9th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $1.02. The business had revenue of $56.30 million for the quarter, compared to analyst estimates of $9.03 million. analysts expect that ChemoCentryx will post -1.18 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in ChemoCentryx by 44.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 26,016 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 8,017 shares in the last quarter. Landscape Capital Management L.L.C. grew its position in ChemoCentryx by 35.4% in the fourth quarter. Landscape Capital Management L.L.C. now owns 33,764 shares of the biopharmaceutical company’s stock valued at $201,000 after acquiring an additional 8,825 shares in the last quarter. Wells Fargo & Company MN grew its position in ChemoCentryx by 46.2% in the third quarter. Wells Fargo & Company MN now owns 34,503 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 10,908 shares in the last quarter. Unterberg Capital LLC acquired a new stake in ChemoCentryx in the fourth quarter valued at approximately $595,000. Finally, TIAA CREF Investment Management LLC grew its position in ChemoCentryx by 10.1% in the fourth quarter. TIAA CREF Investment Management LLC now owns 121,132 shares of the biopharmaceutical company’s stock valued at $721,000 after acquiring an additional 11,124 shares in the last quarter. 48.24% of the stock is owned by institutional investors.

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About ChemoCentryx

ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, develops new medications for inflammatory and autoimmune diseases, and cancer in the United States. The company targets the chemokine and chemoattractant systems to discover, develop, and commercialize orally-administered therapies. Its lead drug candidate is Avacopan, an orally-administered complement inhibitor of the complement C5a receptor (C5aR), is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-associated vasculitis (AAV).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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