ChemoCentryx (CCXI) Lowered to “Hold” at ValuEngine

ChemoCentryx (NASDAQ:CCXI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other research analysts also recently weighed in on the company. BidaskClub downgraded ChemoCentryx from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research downgraded ChemoCentryx from a “buy” rating to a “hold” rating in a research note on Thursday, March 15th. Finally, JPMorgan Chase restated an “overweight” rating and issued a $16.00 price target (up from $13.00) on shares of ChemoCentryx in a research note on Tuesday, March 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.00.

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CCXI stock opened at $10.98 on Tuesday. The company has a quick ratio of 5.46, a current ratio of 5.46 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $574.14, a price-to-earnings ratio of 30.50 and a beta of 1.56. ChemoCentryx has a twelve month low of $5.42 and a twelve month high of $15.08.

ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings results on Friday, March 9th. The biopharmaceutical company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $1.02. The company had revenue of $56.30 million during the quarter, compared to the consensus estimate of $9.03 million. research analysts predict that ChemoCentryx will post -1.18 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC boosted its stake in shares of ChemoCentryx by 16.9% during the 4th quarter. Millennium Management LLC now owns 255,831 shares of the biopharmaceutical company’s stock worth $1,522,000 after acquiring an additional 37,069 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of ChemoCentryx by 10.1% during the 4th quarter. TIAA CREF Investment Management LLC now owns 121,132 shares of the biopharmaceutical company’s stock worth $721,000 after acquiring an additional 11,124 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of ChemoCentryx by 21.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 267,066 shares of the biopharmaceutical company’s stock worth $1,589,000 after acquiring an additional 46,626 shares during the period. Landscape Capital Management L.L.C. boosted its stake in shares of ChemoCentryx by 35.4% during the 4th quarter. Landscape Capital Management L.L.C. now owns 33,764 shares of the biopharmaceutical company’s stock worth $201,000 after acquiring an additional 8,825 shares during the period. Finally, Unterberg Capital LLC bought a new position in shares of ChemoCentryx during the 4th quarter worth approximately $595,000. Institutional investors own 48.24% of the company’s stock.

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ChemoCentryx Company Profile

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 (AAV).

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