BidaskClub Downgrades ChemoCentryx, Inc. (CCXI) to Hold
ChemoCentryx, Inc. (NASDAQ:CCXI) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
CCXI has been the topic of a number of other research reports. Cowen and Company reissued a “hold” rating on shares of ChemoCentryx in a research report on Tuesday, August 8th. Zacks Investment Research raised ChemoCentryx from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Monday, July 17th.
Shares of ChemoCentryx (CCXI) opened at 6.87 on Friday. ChemoCentryx has a 52 week low of $4.17 and a 52 week high of $10.80. The company’s market cap is $334.61 million. The company has a 50 day moving average price of $9.33 and a 200 day moving average price of $7.71.
ChemoCentryx (NASDAQ:CCXI) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.02. The company had revenue of $8.94 million during the quarter. On average, equities analysts expect that ChemoCentryx will post ($0.90) earnings per share for the current year.
In other ChemoCentryx news, insider Petrus Bekker sold 76,013 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $9.95, for a total transaction of $756,329.35. Following the transaction, the insider now owns 65,963 shares of the company’s stock, valued at approximately $656,331.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 223,649 shares of company stock worth $2,157,360 in the last ninety days. Insiders own 26.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CCXI. Bank of Montreal Can bought a new position in ChemoCentryx during the second quarter valued at $102,000. JPMorgan Chase & Co. bought a new position in ChemoCentryx during the second quarter valued at $104,000. Voya Investment Management LLC raised its position in ChemoCentryx by 22.8% in the second quarter. Voya Investment Management LLC now owns 15,984 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,965 shares during the period. Trexquant Investment LP raised its position in ChemoCentryx by 81.1% in the second quarter. Trexquant Investment LP now owns 18,600 shares of the biopharmaceutical company’s stock valued at $174,000 after buying an additional 8,327 shares during the period. Finally, State of Wisconsin Investment Board bought a new position in ChemoCentryx during the second quarter valued at $178,000. 49.37% of the stock is currently owned by hedge funds and other institutional investors.
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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