ChemoCentryx Inc (NASDAQ:CCXI) – Equities researchers at B. Riley boosted their Q3 2019 earnings per share (EPS) estimates for shares of ChemoCentryx in a report issued on Thursday, August 8th, according to Zacks Investment Research. B. Riley analyst H. Polishetty now expects that the biopharmaceutical company will post earnings per share of ($0.20) for the quarter, up from their previous forecast of ($0.22). B. Riley also issued estimates for ChemoCentryx’s Q4 2019 earnings at ($0.13) EPS, FY2019 earnings at ($0.71) EPS, FY2020 earnings at ($0.46) EPS, FY2021 earnings at ($1.19) EPS and FY2022 earnings at ($0.43) EPS.
ChemoCentryx (NASDAQ:CCXI) last released its earnings results on Monday, August 5th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.05). The firm had revenue of $7.17 million during the quarter, compared to the consensus estimate of $10.08 million. ChemoCentryx had a negative return on equity of 103.61% and a negative net margin of 144.27%.
A number of other research analysts also recently issued reports on CCXI. ValuEngine raised ChemoCentryx from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. HC Wainwright reissued a “buy” rating and issued a $23.00 target price on shares of ChemoCentryx in a report on Tuesday, May 7th. BidaskClub raised ChemoCentryx from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. Canaccord Genuity lowered their target price on ChemoCentryx from $20.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, June 6th. Finally, Raymond James reduced their price target on ChemoCentryx from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $18.17.
CCXI stock traded up $0.09 during midday trading on Monday, hitting $6.69. The stock had a trading volume of 190,573 shares, compared to its average volume of 395,065. The firm has a market cap of $387.19 million, a price-to-earnings ratio of -8.80 and a beta of 1.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.57 and a quick ratio of 3.57. ChemoCentryx has a 52-week low of $6.16 and a 52-week high of $14.98. The business has a 50-day moving average of $7.28 and a two-hundred day moving average of $10.16.
A number of institutional investors and hedge funds have recently modified their holdings of CCXI. FMR LLC grew its holdings in ChemoCentryx by 796.2% during the 1st quarter. FMR LLC now owns 5,774,432 shares of the biopharmaceutical company’s stock valued at $80,207,000 after buying an additional 5,130,127 shares in the last quarter. BlackRock Inc. grew its holdings in ChemoCentryx by 45.4% during the 2nd quarter. BlackRock Inc. now owns 3,852,875 shares of the biopharmaceutical company’s stock valued at $35,832,000 after buying an additional 1,202,155 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in shares of ChemoCentryx by 21.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,004,865 shares of the biopharmaceutical company’s stock valued at $27,945,000 after purchasing an additional 540,201 shares during the last quarter. Farallon Capital Management LLC lifted its stake in shares of ChemoCentryx by 33.3% in the 2nd quarter. Farallon Capital Management LLC now owns 2,000,000 shares of the biopharmaceutical company’s stock valued at $18,600,000 after purchasing an additional 500,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of ChemoCentryx by 37.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,774,489 shares of the biopharmaceutical company’s stock valued at $16,502,000 after purchasing an additional 488,063 shares during the last quarter. Institutional investors and hedge funds own 64.27% of the company’s stock.
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.