ChemoCentryx (NASDAQ:CCXI) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of ChemoCentryx (NASDAQ:CCXIGet Rating) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

ChemoCentryx Stock Performance

CCXI opened at $22.87 on Monday. The company has a market cap of $1.63 billion, a PE ratio of -11.38 and a beta of 1.81. The stock has a 50-day moving average of $23.88 and a 200-day moving average of $24.65. ChemoCentryx has a 52-week low of $13.11 and a 52-week high of $42.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.07 and a current ratio of 5.11.

ChemoCentryx (NASDAQ:CCXIGet Rating) last released its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.25). The company had revenue of $5.46 million for the quarter, compared to the consensus estimate of $4.43 million. ChemoCentryx had a negative return on equity of 47.24% and a negative net margin of 514.64%. During the same quarter last year, the company posted ($0.43) EPS. As a group, equities research analysts forecast that ChemoCentryx will post -1.93 earnings per share for the current fiscal year.

Insider Transactions at ChemoCentryx

In other news, Director James L. Tyree sold 3,863 shares of the company’s stock in a transaction dated Thursday, June 9th. The stock was sold at an average price of $25.66, for a total transaction of $99,124.58. Following the completion of the sale, the director now owns 19,138 shares in the company, valued at approximately $491,081.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ChemoCentryx

Several large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its position in shares of ChemoCentryx by 47.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 118,744 shares of the biopharmaceutical company’s stock worth $2,942,000 after purchasing an additional 38,338 shares during the last quarter. Silverarc Capital Management LLC acquired a new position in shares of ChemoCentryx during the 2nd quarter worth about $645,000. Bank of America Corp DE lifted its position in shares of ChemoCentryx by 292.1% during the 1st quarter. Bank of America Corp DE now owns 301,522 shares of the biopharmaceutical company’s stock worth $7,558,000 after purchasing an additional 224,627 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of ChemoCentryx during the 1st quarter worth about $869,000. Finally, RA Capital Management L.P. acquired a new position in shares of ChemoCentryx during the 1st quarter worth about $28,980,000. Institutional investors and hedge funds own 82.28% of the company’s stock.

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.

Featured Stories

Analyst Recommendations for ChemoCentryx (NASDAQ:CCXI)

Receive News & Ratings for ChemoCentryx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChemoCentryx and related companies with MarketBeat.com's FREE daily email newsletter.