ChemoCentryx Inc (NASDAQ:CCXI) has earned an average rating of “Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $72.25.
Several research firms have issued reports on CCXI. BTIG Research began coverage on shares of ChemoCentryx in a research report on Tuesday, June 16th. They set a “buy” rating and a $70.00 price target on the stock. BidaskClub cut shares of ChemoCentryx from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Canaccord Genuity reiterated a “buy” rating on shares of ChemoCentryx in a report on Wednesday, June 3rd. ValuEngine lowered ChemoCentryx from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. Finally, Zacks Investment Research cut ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Friday, July 31st.
CCXI traded up $0.72 on Wednesday, hitting $53.68. 998,965 shares of the company were exchanged, compared to its average volume of 654,703. The stock’s fifty day moving average is $52.19 and its 200-day moving average is $52.08. ChemoCentryx has a 12 month low of $6.44 and a 12 month high of $65.43. The company has a debt-to-equity ratio of 0.12, a quick ratio of 9.00 and a current ratio of 9.00. The company has a market cap of $3.70 billion, a PE ratio of -99.41 and a beta of 1.74.
In other news, major shareholder (International) Ltd Vifor sold 100,000 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $59.95, for a total transaction of $5,995,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 1,026,552 shares of company stock worth $58,035,347 in the last ninety days. 9.30% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP boosted its holdings in ChemoCentryx by 69.4% in the 2nd quarter. Two Sigma Advisers LP now owns 238,041 shares of the biopharmaceutical company’s stock valued at $13,697,000 after purchasing an additional 97,500 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of ChemoCentryx during the second quarter worth approximately $614,000. Principal Financial Group Inc. increased its holdings in shares of ChemoCentryx by 40.4% during the second quarter. Principal Financial Group Inc. now owns 19,963 shares of the biopharmaceutical company’s stock worth $1,149,000 after purchasing an additional 5,740 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of ChemoCentryx in the second quarter valued at approximately $3,422,000. Finally, Handelsbanken Fonder AB bought a new stake in shares of ChemoCentryx in the second quarter valued at approximately $437,000. Institutional investors and hedge funds own 76.36% of the company’s stock.
ChemoCentryx Company Profile
ChemoCentryx, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. Its lead drug candidate is Avacopan, an orally-administered complement inhibitor of the complement C5a receptor (C5aR), which is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-associated vasculitis; and Phase IIb clinical trial, the AURORA trial for the treatment of patients with moderate-to-severe hidradenitis suppurativa, as well as patients with complement 3 glomerulopathy.
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