ValuEngine cut shares of ChemoCentryx (NASDAQ:CCXI) from a strong-buy rating to a buy rating in a research report released on Monday, ValuEngine reports.

CCXI has been the subject of several other research reports. Zacks Investment Research upgraded shares of ChemoCentryx from a hold rating to a buy rating and set a $13.00 price objective for the company in a research report on Tuesday, January 29th. HC Wainwright reiterated a buy rating and set a $23.00 price objective on shares of ChemoCentryx in a research report on Tuesday, May 7th. Raymond James set a $22.00 price objective on shares of ChemoCentryx and gave the company a buy rating in a research report on Tuesday, April 23rd. TheStreet lowered shares of ChemoCentryx from a c rating to a d- rating in a research report on Monday, March 18th. Finally, B. Riley upgraded shares of ChemoCentryx from a neutral rating to a buy rating and increased their price objective for the company from $12.50 to $22.00 in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. ChemoCentryx presently has an average rating of Buy and a consensus price target of $19.29.

CCXI stock opened at $11.82 on Monday. ChemoCentryx has a 52 week low of $9.07 and a 52 week high of $14.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.43 and a quick ratio of 3.43. The firm has a market cap of $721.56 million, a price-to-earnings ratio of -15.55 and a beta of 1.25.

ChemoCentryx (NASDAQ:CCXI) last released its quarterly earnings data on Monday, May 6th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.01. ChemoCentryx had a negative net margin of 97.22% and a negative return on equity of 111.15%. The business had revenue of $8.33 million during the quarter, compared to analyst estimates of $11.37 million. Research analysts anticipate that ChemoCentryx will post -0.92 EPS for the current fiscal year.

In other news, CFO Susan M. Kanaya sold 35,000 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $13.05, for a total value of $456,750.00. Following the sale, the chief financial officer now owns 110,890 shares of the company’s stock, valued at $1,447,114.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas J. Schall sold 5,755 shares of the stock in a transaction on Friday, March 29th. The shares were sold at an average price of $14.00, for a total transaction of $80,570.00. Following the completion of the sale, the chief executive officer now directly owns 2,234,610 shares in the company, valued at approximately $31,284,540. The disclosure for this sale can be found here. In the last three months, insiders sold 233,755 shares of company stock worth $3,160,200. Insiders own 12.20% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Kore Private Wealth LLC purchased a new stake in shares of ChemoCentryx in the first quarter valued at $28,000. BNP Paribas Arbitrage SA raised its stake in shares of ChemoCentryx by 46,860.0% in the first quarter. BNP Paribas Arbitrage SA now owns 4,696 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 4,686 shares during the period. Meeder Asset Management Inc. raised its stake in shares of ChemoCentryx by 103.5% in the first quarter. Meeder Asset Management Inc. now owns 6,176 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 3,141 shares during the period. Citigroup Inc. raised its stake in shares of ChemoCentryx by 67.7% in the first quarter. Citigroup Inc. now owns 6,829 shares of the biopharmaceutical company’s stock valued at $95,000 after acquiring an additional 2,756 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of ChemoCentryx by 369.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,804 shares of the biopharmaceutical company’s stock valued at $96,000 after acquiring an additional 6,930 shares during the period. 46.87% of the stock is currently owned by institutional investors and hedge funds.

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.

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