Zacks Investment Research lowered shares of ChemoCentryx, Inc. (NASDAQ:CCXI) from a buy rating to a hold rating in a research note released on Monday morning.

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. “

A number of other research firms also recently issued reports on CCXI. ValuEngine downgraded shares of ChemoCentryx from a hold rating to a sell rating in a research report on Friday, November 10th. BidaskClub cut shares of ChemoCentryx from a strong-buy rating to a buy rating in a report on Thursday, August 10th. Finally, Cowen and Company reaffirmed a hold rating on shares of ChemoCentryx in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $8.25.

ChemoCentryx (NASDAQ:CCXI) traded up $0.09 during trading on Monday, hitting $7.35. 49,400 shares of the stock were exchanged, compared to its average volume of 139,542. ChemoCentryx has a one year low of $6.13 and a one year high of $10.80.

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

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Several hedge funds have recently added to or reduced their stakes in CCXI. Wasatch Advisors Inc. increased its holdings in shares of ChemoCentryx by 10.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,255,438 shares of the biopharmaceutical company’s stock worth $21,111,000 after acquiring an additional 210,039 shares during the period. Renaissance Technologies LLC increased its holdings in shares of ChemoCentryx by 31.0% in 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 during the period. BB&T Securities LLC acquired a new stake in shares of ChemoCentryx in the 2nd quarter worth about $781,000. OxFORD Asset Management LLP increased its holdings in shares of ChemoCentryx by 37.3% in the 3rd quarter. OxFORD Asset Management LLP now owns 246,369 shares of the biopharmaceutical company’s stock worth $1,853,000 after acquiring an additional 66,910 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of ChemoCentryx in the 3rd quarter worth about $414,000. 49.15% of the stock is currently owned by institutional investors and hedge funds.

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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