ChemoCentryx (CCXI) Issues Earnings Results, Beats Estimates By $0.03 EPS

ChemoCentryx (NASDAQ:CCXI) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03, Fidelity Earnings reports. The business had revenue of $8.98 million for the quarter, compared to analysts’ expectations of $11.55 million. ChemoCentryx had a net margin of 18.69% and a return on equity of 39.31%.

Shares of NASDAQ:CCXI traded down $1.65 during mid-day trading on Friday, reaching $10.05. 340,471 shares of the company’s stock were exchanged, compared to its average volume of 164,306. The firm has a market cap of $603.72 million, a PE ratio of 27.92 and a beta of 1.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.69 and a current ratio of 2.69. ChemoCentryx has a twelve month low of $5.42 and a twelve month high of $15.08.

A number of analysts have weighed in on CCXI shares. BidaskClub upgraded shares of ChemoCentryx from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. ValuEngine lowered shares of ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. B. Riley started coverage on shares of ChemoCentryx in a research report on Friday, September 7th. They issued a “neutral” rating and a $12.50 target price on the stock. JPMorgan Chase & Co. lowered shares of ChemoCentryx from an “overweight” rating to a “neutral” rating and raised their target price for the company from $14.00 to $15.00 in a research report on Tuesday, August 14th. Finally, HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of ChemoCentryx in a research report on Monday, August 13th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $16.58.

In other news, insider Plc Glaxosmithkline sold 7,343,492 shares of ChemoCentryx stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $11.69, for a total transaction of $85,845,421.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Thomas J. Schall sold 7,211 shares of ChemoCentryx stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $12.00, for a total transaction of $86,532.00. Following the transaction, the insider now owns 2,192,205 shares in the company, valued at approximately $26,306,460. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,380,940 shares of company stock worth $86,264,863. 14.50% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Sei Investments Co. raised its stake in ChemoCentryx by 203.5% during the second quarter. Sei Investments Co. now owns 8,549 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 5,732 shares during the last quarter. Macquarie Group Ltd. bought a new position in ChemoCentryx during the second quarter worth $130,000. grace capital bought a new position in ChemoCentryx during the second quarter worth $132,000. Dynamic Technology Lab Private Ltd bought a new position in ChemoCentryx during the first quarter worth $153,000. Finally, Paloma Partners Management Co bought a new position in ChemoCentryx during the second quarter worth $159,000. Institutional investors own 53.18% of the company’s stock.

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About ChemoCentryx

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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Earnings History for ChemoCentryx (NASDAQ:CCXI)

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