ChemoCentryx Inc (CCXI) Forecasted to Earn FY2023 Earnings of $0.48 Per Share

ChemoCentryx Inc (NASDAQ:CCXI) – Equities research analysts at B. Riley decreased their FY2023 earnings estimates for ChemoCentryx in a research note issued on Wednesday, May 15th. B. Riley analyst H. Polishetty now forecasts that the biopharmaceutical company will post earnings per share of $0.48 for the year, down from their previous estimate of $0.50. B. Riley currently has a “Buy” rating and a $22.00 price objective on the stock.

ChemoCentryx (NASDAQ:CCXI) last announced its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. The firm had revenue of $8.33 million during the quarter, compared to analysts’ expectations of $11.37 million. ChemoCentryx had a negative return on equity of 111.15% and a negative net margin of 97.22%.

A number of other brokerages have also recently issued reports on CCXI. Zacks Investment Research cut ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. Svb Leerink reissued an “outperform” rating on shares of ChemoCentryx in a research report on Thursday, February 14th. Piper Jaffray Companies started coverage on ChemoCentryx in a research report on Monday, February 11th. They issued an “overweight” rating and a $20.00 target price for the company. Finally, ValuEngine cut ChemoCentryx from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $19.29.

Shares of NASDAQ CCXI opened at $12.52 on Thursday. The stock has a market capitalization of $693.12 million, a P/E ratio of -16.47 and a beta of 1.25. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.24. ChemoCentryx has a 52-week low of $9.07 and a 52-week high of $14.98.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its stake in ChemoCentryx by 796.2% during the 1st quarter. FMR LLC now owns 5,774,432 shares of the biopharmaceutical company’s stock valued at $80,207,000 after acquiring an additional 5,130,127 shares during the last quarter. BlackRock Inc. raised its stake in ChemoCentryx by 3.0% during the 3rd quarter. BlackRock Inc. now owns 2,802,721 shares of the biopharmaceutical company’s stock valued at $35,425,000 after acquiring an additional 80,783 shares during the last quarter. Wasatch Advisors Inc. raised its stake in ChemoCentryx by 6.1% during the 1st quarter. Wasatch Advisors Inc. now owns 2,464,664 shares of the biopharmaceutical company’s stock valued at $34,234,000 after acquiring an additional 141,341 shares during the last quarter. Vanguard Group Inc. raised its stake in ChemoCentryx by 7.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,329,494 shares of the biopharmaceutical company’s stock valued at $16,805,000 after acquiring an additional 90,899 shares during the last quarter. Finally, Vanguard Group Inc raised its stake in ChemoCentryx by 7.3% during the 3rd quarter. Vanguard Group Inc now owns 1,329,494 shares of the biopharmaceutical company’s stock valued at $16,805,000 after acquiring an additional 90,899 shares during the last quarter. 46.87% of the stock is owned by hedge funds and other institutional investors.

In other ChemoCentryx news, SVP Rajinder Singh sold 33,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $12.96, for a total transaction of $427,680.00. Following the completion of the sale, the senior vice president now directly owns 43,614 shares of the company’s stock, valued at approximately $565,237.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas J. Schall sold 160,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $13.72, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 233,755 shares of company stock valued at $3,160,200. 12.20% 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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Earnings History and Estimates for ChemoCentryx (NASDAQ:CCXI)

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