ChemoCentryx (NASDAQ:CCXI) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

ChemoCentryx (NASDAQ:CCXI) issued its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.05), Bloomberg Earnings reports. ChemoCentryx had a negative return on equity of 111.15% and a negative net margin of 97.22%. The company had revenue of $7.17 million for the quarter, compared to analyst estimates of $10.08 million.

NASDAQ:CCXI traded down $0.82 during trading hours on Tuesday, hitting $6.80. The company’s stock had a trading volume of 25,364 shares, compared to its average volume of 305,865. ChemoCentryx has a 52-week low of $7.45 and a 52-week high of $14.98. The firm has a market capitalization of $442.34 million, a P/E ratio of -8.93 and a beta of 1.07. The company has a 50-day moving average price of $8.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.43 and a quick ratio of 3.43.

Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded ChemoCentryx from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Canaccord Genuity decreased their price target on ChemoCentryx from $20.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, June 6th. Raymond James cut their price objective on ChemoCentryx from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Thursday, June 6th. ValuEngine upgraded ChemoCentryx from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $23.00 price objective on shares of ChemoCentryx in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $17.71.

In other news, Director Geoffrey M. Parker sold 12,815 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $12.00, for a total value of $153,780.00. Following the completion of the transaction, the director now owns 85,014 shares in the company, valued at $1,020,168. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of ChemoCentryx by 10.2% during the 4th quarter. Bank of New York Mellon Corp now owns 139,805 shares of the biopharmaceutical company’s stock valued at $1,525,000 after acquiring an additional 12,957 shares during the last quarter. Raymond James & Associates acquired a new position in ChemoCentryx in the fourth quarter valued at about $133,000. Dimensional Fund Advisors LP lifted its position in ChemoCentryx by 15.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 632,061 shares of the biopharmaceutical company’s stock valued at $6,896,000 after buying an additional 84,290 shares during the last quarter. Geode Capital Management LLC lifted its position in ChemoCentryx by 33.0% in the fourth quarter. Geode Capital Management LLC now owns 333,917 shares of the biopharmaceutical company’s stock valued at $3,642,000 after buying an additional 82,918 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in ChemoCentryx by 369.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,804 shares of the biopharmaceutical company’s stock valued at $96,000 after buying an additional 6,930 shares during the last quarter. Institutional investors and hedge funds own 58.14% 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.

See Also: Intrinsic Value

Earnings History for ChemoCentryx (NASDAQ:CCXI)

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