Analysts forecast that ChemoCentryx Inc (NASDAQ:CCXI) will announce earnings of ($0.26) per share for the current quarter, Zacks reports. Five analysts have issued estimates for ChemoCentryx’s earnings, with the lowest EPS estimate coming in at ($0.32) and the highest estimate coming in at ($0.21). ChemoCentryx reported earnings per share of ($0.21) during the same quarter last year, which would suggest a negative year over year growth rate of 23.8%. The business is scheduled to report its next quarterly earnings results on Monday, March 9th.
According to Zacks, analysts expect that ChemoCentryx will report full year earnings of ($0.98) per share for the current fiscal year, with EPS estimates ranging from ($1.04) to ($0.92). For the next fiscal year, analysts forecast that the business will post earnings of ($1.46) per share, with EPS estimates ranging from ($1.72) to ($1.24). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for ChemoCentryx.
ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.06. ChemoCentryx had a negative return on equity of 88.76% and a negative net margin of 143.30%. The firm had revenue of $10.58 million for the quarter, compared to analysts’ expectations of $7.83 million.
Several research firms have recently commented on CCXI. Canaccord Genuity upped their price target on ChemoCentryx from $16.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. BidaskClub raised shares of ChemoCentryx from a “hold” rating to a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of ChemoCentryx from $14.00 to $28.00 and gave the stock a “positive” rating in a research report on Tuesday, November 26th. Raymond James upped their price objective on shares of ChemoCentryx from $17.00 to $56.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 26th. Finally, HC Wainwright raised their target price on shares of ChemoCentryx from $23.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $40.29.
Shares of CCXI stock traded up $0.23 during midday trading on Friday, hitting $31.28. The company had a trading volume of 658,481 shares, compared to its average volume of 2,530,672. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -41.16 and a beta of 2.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.12 and a quick ratio of 3.12. The company’s 50 day simple moving average is $13.31 and its 200 day simple moving average is $9.45. ChemoCentryx has a 52-week low of $6.16 and a 52-week high of $36.88.
In related news, CEO Thomas J. Schall sold 279,166 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $31.55, for a total transaction of $8,807,687.30. Following the transaction, the chief executive officer now owns 2,508,021 shares of the company’s stock, valued at $79,128,062.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan M. Kanaya sold 311,625 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $31.51, for a total value of $9,819,303.75. Following the completion of the transaction, the chief financial officer now owns 162,931 shares of the company’s stock, valued at approximately $5,133,955.81. The disclosure for this sale can be found here. Insiders sold a total of 921,315 shares of company stock valued at $29,213,675 over the last three months. Insiders own 12.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of ChemoCentryx by 8.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,692 shares of the biopharmaceutical company’s stock valued at $220,000 after purchasing an additional 1,920 shares during the period. A.R.T. Advisors LLC lifted its position in shares of ChemoCentryx by 9.6% during the 2nd quarter. A.R.T. Advisors LLC now owns 26,176 shares of the biopharmaceutical company’s stock valued at $243,000 after acquiring an additional 2,300 shares during the period. Parametric Portfolio Associates LLC lifted its position in shares of ChemoCentryx by 4.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 57,809 shares of the biopharmaceutical company’s stock valued at $538,000 after acquiring an additional 2,319 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of ChemoCentryx during the 2nd quarter valued at approximately $29,000. Finally, Strs Ohio boosted its stake in shares of ChemoCentryx by 6.8% during the 2nd quarter. Strs Ohio now owns 59,600 shares of the biopharmaceutical company’s stock worth $554,000 after acquiring an additional 3,800 shares in the last quarter. Institutional investors own 60.72% of the company’s stock.
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.
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