ChemoCentryx Inc. (CCXI) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of ChemoCentryx Inc. (NASDAQ:CCXI) from a hold rating to a buy rating in a report released on Monday morning. The firm currently has $9.00 price target on the biopharmaceutical company’s stock.
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. “
Separately, JPMorgan Chase & Co. reissued a buy rating and set a $11.00 price objective on shares of ChemoCentryx in a research note on Tuesday, August 9th.
ChemoCentryx (NASDAQ:CCXI) opened at 8.13 on Monday. ChemoCentryx has a 1-year low of $1.92 and a 1-year high of $8.30. The firm’s market capitalization is $360.08 million. The stock’s 50 day moving average is $6.59 and its 200-day moving average is $5.16.
In related news, insider Petrus Bekker sold 33,332 shares of ChemoCentryx stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $8.00, for a total transaction of $266,656.00. Following the sale, the insider now directly owns 54,228 shares of the company’s stock, valued at $433,824. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 26.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in ChemoCentryx by 23.5% in the second quarter. Bank of New York Mellon Corp now owns 117,265 shares of the biopharmaceutical company’s stock worth $526,000 after buying an additional 22,314 shares during the period. Oxford Asset Management purchased a new stake in ChemoCentryx during the second quarter worth $2,409,000. Geduld E E purchased a new stake in ChemoCentryx during the second quarter worth $112,000. Connective Capital Management LLC purchased a new stake in ChemoCentryx during the second quarter worth $861,000. Finally, Emerald Acquisition Ltd. purchased a new stake in ChemoCentryx during the second quarter worth $155,000. 48.09% of the stock is currently owned by institutional investors and hedge funds.
ChemoCentryx, Inc (ChemoCentryx) is a biopharmaceutical company. The Company is focused on discovering, developing and commercializing orally-administered therapeutics to treat orphan and rare diseases, autoimmune diseases, inflammatory disorders and cancer. It targets the chemoattractant system, which is a network of molecules, including chemokine ligands and their associated receptors, as well as related chemoattractant receptors.
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