ChemoCentryx (CCXI) Issues Earnings Results

ChemoCentryx (NASDAQ:CCXI) posted its earnings results on Monday, May 6th. The biopharmaceutical company reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.01, Morningstar.com reports. ChemoCentryx had a negative return on equity of 111.15% and a negative net margin of 97.22%. The business had revenue of $8.33 million during the quarter, compared to analysts’ expectations of $11.37 million.

Shares of NASDAQ CCXI traded down $0.51 during midday trading on Thursday, hitting $11.81. 207,321 shares of the stock traded hands, compared to its average volume of 455,129. ChemoCentryx has a one year low of $9.07 and a one year high of $14.98. The stock has a market capitalization of $716.89 million, a price-to-earnings ratio of -15.54 and a beta of 1.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.43 and a quick ratio of 3.43.

In other news, CEO Thomas J. Schall sold 5,755 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $14.00, for a total transaction of $80,570.00. Following the completion of the transaction, the chief executive officer now owns 2,234,610 shares in the company, valued at $31,284,540. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Rajinder Singh sold 33,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $12.96, for a total value of $427,680.00. Following the transaction, the senior vice president now owns 43,614 shares of the company’s stock, valued at approximately $565,237.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,755 shares of company stock worth $3,160,200. 12.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCXI. FMR LLC grew its position in ChemoCentryx by 796.2% in the first quarter. FMR LLC now owns 5,774,432 shares of the biopharmaceutical company’s stock worth $80,207,000 after acquiring an additional 5,130,127 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ChemoCentryx by 89.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,194,990 shares of the biopharmaceutical company’s stock worth $16,597,000 after purchasing an additional 562,929 shares during the last quarter. Sio Capital Management LLC lifted its stake in ChemoCentryx by 213.2% in the first quarter. Sio Capital Management LLC now owns 530,175 shares of the biopharmaceutical company’s stock worth $7,364,000 after purchasing an additional 360,918 shares during the last quarter. Renaissance Technologies LLC lifted its stake in ChemoCentryx by 28.3% in the first quarter. Renaissance Technologies LLC now owns 1,133,254 shares of the biopharmaceutical company’s stock worth $15,741,000 after purchasing an additional 249,873 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its stake in ChemoCentryx by 6.1% in the first quarter. Wasatch Advisors Inc. now owns 2,464,664 shares of the biopharmaceutical company’s stock worth $34,234,000 after purchasing an additional 141,341 shares during the last quarter. Institutional investors own 58.14% of the company’s stock.

A number of research analysts have commented on CCXI shares. Svb Leerink reaffirmed an “outperform” rating on shares of ChemoCentryx in a research report on Thursday, February 14th. Zacks Investment Research raised ChemoCentryx from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Wednesday, March 13th. ValuEngine downgraded ChemoCentryx from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 5th. TheStreet downgraded ChemoCentryx from a “c” rating to a “d-” rating in a report on Monday, March 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $23.00 target price on shares of ChemoCentryx in a report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. ChemoCentryx currently has an average rating of “Buy” and a consensus target price of $19.29.

ILLEGAL ACTIVITY NOTICE: This article was originally published by Rockland Register and is the property of of Rockland Register. If you are reading this article on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright law. The legal version of this article can be viewed at https://rocklandregister.com/2019/05/30/chemocentryx-ccxi-releases-quarterly-earnings-results-beats-estimates-by-0-01-eps.html.

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.

Featured Story: Initial Public Offering (IPO)

Earnings History for ChemoCentryx (NASDAQ:CCXI)

Receive News & Ratings for ChemoCentryx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ChemoCentryx and related companies with MarketBeat.com's FREE daily email newsletter.