ChemoCentryx, Inc. (CCXI) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of ChemoCentryx, Inc. (NASDAQ:CCXI) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

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. “

A number of other research analysts have also recently issued reports on CCXI. Cowen and Company reissued a hold rating on shares of ChemoCentryx in a research note on Tuesday, August 8th. BidaskClub cut ChemoCentryx from a strong-buy rating to a buy rating in a research note on Thursday, August 10th. Finally, ValuEngine cut ChemoCentryx from a hold rating to a sell rating in a research note on Saturday, October 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $8.25.

Shares of ChemoCentryx (NASDAQ:CCXI) opened at $7.26 on Monday. ChemoCentryx has a 52 week low of $6.13 and a 52 week high of $10.80.

ChemoCentryx (NASDAQ:CCXI) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.13. equities research analysts anticipate that ChemoCentryx will post -0.67 EPS for the current year.

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Institutional investors have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in ChemoCentryx during the second quarter worth about $102,000. JPMorgan Chase & Co. bought a new stake in ChemoCentryx during the second quarter worth about $104,000. Voya Investment Management LLC raised its holdings in ChemoCentryx by 22.8% during the second quarter. Voya Investment Management LLC now owns 15,984 shares of the biopharmaceutical company’s stock worth $150,000 after acquiring an additional 2,965 shares in the last quarter. Trexquant Investment LP raised its stake 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 stake in ChemoCentryx in the second quarter valued at approximately $178,000. Institutional investors own 49.15% of the company’s stock.

About ChemoCentryx

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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