Brokers Offer Predictions for ChemoCentryx Inc’s Q1 2019 Earnings (CCXI)

ChemoCentryx Inc (NASDAQ:CCXI) – B. Riley issued their Q1 2019 EPS estimates for ChemoCentryx in a research report issued on Wednesday, March 27th, Zacks Investment Research reports. B. Riley analyst H. Polishetty anticipates that the biopharmaceutical company will earn ($0.40) per share for the quarter. B. Riley currently has a “Buy” rating and a $22.00 target price on the stock. B. Riley also issued estimates for ChemoCentryx’s Q2 2019 earnings at ($0.39) EPS, Q3 2019 earnings at ($0.38) EPS, Q4 2019 earnings at ($0.37) EPS, FY2019 earnings at ($1.49) EPS, FY2020 earnings at ($0.54) EPS, FY2021 earnings at ($1.38) EPS, FY2022 earnings at ($0.44) EPS and FY2023 earnings at $0.50 EPS.

ChemoCentryx (NASDAQ:CCXI) last posted its quarterly earnings data on Monday, March 11th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.06. The business had revenue of $9.33 million for the quarter, compared to analyst estimates of $9.54 million. ChemoCentryx had a negative return on equity of 167.57% and a negative net margin of 88.55%.

A number of other research firms also recently weighed in on CCXI. Zacks Investment Research raised ChemoCentryx from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, January 16th. Svb Leerink reissued an “outperform” rating on shares of ChemoCentryx in a research report on Thursday, February 14th. ValuEngine raised ChemoCentryx from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 25th. Finally, Piper Jaffray Companies started coverage on ChemoCentryx in a research report on Monday, February 11th. They set an “overweight” rating and a $20.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the company. ChemoCentryx presently has an average rating of “Buy” and a consensus target price of $18.14.

Shares of ChemoCentryx stock traded down $0.16 during trading on Friday, reaching $12.13. The company’s stock had a trading volume of 359,298 shares, compared to its average volume of 720,002. ChemoCentryx has a one year low of $9.07 and a one year high of $14.98. The firm has a market capitalization of $700.22 million, a PE ratio of -15.96 and a beta of 1.32. The company has a debt-to-equity ratio of 1.34, a quick ratio of 2.82 and a current ratio of 2.82.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in ChemoCentryx by 3.0% during the third quarter. BlackRock Inc. now owns 2,802,721 shares of the biopharmaceutical company’s stock valued at $35,425,000 after purchasing an additional 80,783 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of ChemoCentryx by 44.9% in the 4th quarter. Rhumbline Advisers now owns 30,596 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 9,479 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ChemoCentryx by 70.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 547,771 shares of the biopharmaceutical company’s stock worth $6,922,000 after acquiring an additional 226,485 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of ChemoCentryx in the 4th quarter worth approximately $196,000. Finally, VHCP Management III LLC acquired a new position in shares of ChemoCentryx in the 3rd quarter worth approximately $493,000. 54.11% of the stock is currently owned by institutional investors.

In other ChemoCentryx news, insider Thomas J. Schall sold 160,000 shares of ChemoCentryx stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $13.72, for a total transaction of $2,195,200.00. Following the sale, the insider now directly owns 2,234,610 shares of the company’s stock, valued at $30,658,849.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rajinder Singh sold 33,000 shares of ChemoCentryx stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $12.96, for a total value of $427,680.00. Following the sale, the senior vice president now directly owns 43,614 shares in the company, valued at $565,237.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,648 shares of company stock worth $3,617,947. 14.50% of the stock is owned by company insiders.

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.

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