Brokerages Expect ChemoCentryx, Inc. (NASDAQ:CCXI) Will Post Quarterly Sales of $13.11 Million

Wall Street analysts expect that ChemoCentryx, Inc. (NASDAQ:CCXIGet Rating) will post $13.11 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for ChemoCentryx’s earnings. The highest sales estimate is $14.88 million and the lowest is $10.77 million. ChemoCentryx reported sales of $1.81 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 624.3%. The company is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that ChemoCentryx will report full year sales of $67.32 million for the current financial year, with estimates ranging from $50.61 million to $81.55 million. For the next year, analysts anticipate that the business will report sales of $178.97 million, with estimates ranging from $116.36 million to $271.03 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover ChemoCentryx.

ChemoCentryx (NASDAQ:CCXIGet Rating) last released its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.25). The firm had revenue of $5.46 million for the quarter, compared to the consensus estimate of $4.43 million. ChemoCentryx had a negative net margin of 514.64% and a negative return on equity of 47.24%. During the same quarter in the prior year, the firm earned ($0.43) earnings per share.

Several research analysts have recently weighed in on CCXI shares. Stifel Nicolaus restated a “buy” rating and issued a $85.00 price target on shares of ChemoCentryx in a research note on Friday, March 18th. StockNews.com began coverage on ChemoCentryx in a research report on Thursday, March 31st. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $73.43.

Shares of NASDAQ:CCXI opened at $23.41 on Friday. ChemoCentryx has a 12-month low of $9.91 and a 12-month high of $42.16. The stock has a fifty day simple moving average of $21.32 and a two-hundred day simple moving average of $28.20. The company has a current ratio of 5.11, a quick ratio of 5.07 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -11.65 and a beta of 1.96.

Large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in ChemoCentryx by 64.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,534 shares of the biopharmaceutical company’s stock valued at $347,000 after purchasing an additional 3,734 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of ChemoCentryx by 18.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 141,600 shares of the biopharmaceutical company’s stock worth $5,156,000 after acquiring an additional 22,200 shares during the period. Maven Securities LTD bought a new position in shares of ChemoCentryx in the fourth quarter worth about $2,324,000. WINTON GROUP Ltd boosted its stake in shares of ChemoCentryx by 141.5% in the fourth quarter. WINTON GROUP Ltd now owns 35,031 shares of the biopharmaceutical company’s stock worth $1,275,000 after acquiring an additional 20,528 shares during the period. Finally, GW&K Investment Management LLC bought a new position in shares of ChemoCentryx in the fourth quarter worth about $23,746,000. 82.28% of the stock is owned by institutional investors and hedge funds.

ChemoCentryx Company Profile (Get Rating)

ChemoCentryx, Inc, a biopharmaceutical company, focuses on the development and commercialization of new medications for inflammatory disorders, autoimmune diseases, and cancer in the United States. It offers TAVNEOS (avacopan), an orally administered selective C5aR inhibitor for the treatment of adult patients with severe active anti-neutrophil cytoplasmic autoantibody-associated vasculitis.

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