Analysts expect that ChemoCentryx Inc (NASDAQ:CCXI) will report $11.55 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for ChemoCentryx’s earnings. The lowest sales estimate is $9.65 million and the highest is $15.00 million. ChemoCentryx reported sales of $9.03 million during the same quarter last year, which indicates a positive year over year growth rate of 27.9%. The company is expected to issue its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that ChemoCentryx will report full-year sales of $46.39 million for the current fiscal year, with estimates ranging from $42.50 million to $54.57 million. For the next year, analysts anticipate that the company will report sales of $36.24 million per share, with estimates ranging from $100,000.00 to $60.00 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for ChemoCentryx.
ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. The business had revenue of $15.02 million during the quarter, compared to the consensus estimate of $16.88 million. ChemoCentryx had a net margin of 18.69% and a return on equity of 39.31%.
CCXI has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of ChemoCentryx from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $14.00 to $15.00 in a research note on Tuesday, August 14th. B. Riley assumed coverage on shares of ChemoCentryx in a research note on Friday, September 7th. They set a “neutral” rating and a $12.50 price target for the company. BidaskClub raised shares of ChemoCentryx from a “hold” rating to a “buy” rating in a research note on Thursday, August 30th. Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price target on shares of ChemoCentryx in a research note on Friday, August 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of ChemoCentryx in a research note on Monday, August 13th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. ChemoCentryx currently has an average rating of “Buy” and a consensus price target of $16.58.
NASDAQ:CCXI traded up $0.19 on Tuesday, hitting $12.56. The company had a trading volume of 9,319 shares, compared to its average volume of 177,509. The company has a market cap of $581.45 million, a price-to-earnings ratio of 34.36 and a beta of 1.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.69 and a quick ratio of 2.69. ChemoCentryx has a 52 week low of $5.42 and a 52 week high of $15.08.
In other news, insider Markus J. Cappel sold 25,179 shares of the stock in a transaction on Friday, June 29th. The shares were sold at an average price of $13.67, for a total transaction of $344,196.93. Following the completion of the sale, the insider now directly owns 24,626 shares in the company, valued at $336,637.42. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Susan M. Kanaya sold 49,507 shares of the stock in a transaction on Thursday, June 28th. The stock was sold at an average price of $13.79, for a total transaction of $682,701.53. Following the sale, the chief financial officer now owns 38,985 shares of the company’s stock, valued at $537,603.15. The disclosure for this sale can be found here. Insiders have sold 76,436 shares of company stock valued at $1,050,371 in the last ninety days. Insiders own 14.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of ChemoCentryx by 6.0% during the second quarter. BlackRock Inc. now owns 2,721,938 shares of the biopharmaceutical company’s stock worth $35,847,000 after buying an additional 155,172 shares during the period. Farallon Capital Management LLC acquired a new stake in ChemoCentryx in the first quarter worth $12,920,000. Acadian Asset Management LLC grew its holdings in ChemoCentryx by 42.4% in the second quarter. Acadian Asset Management LLC now owns 743,298 shares of the biopharmaceutical company’s stock worth $9,789,000 after purchasing an additional 221,434 shares during the period. Nantahala Capital Management LLC grew its holdings in ChemoCentryx by 2.4% in the second quarter. Nantahala Capital Management LLC now owns 615,173 shares of the biopharmaceutical company’s stock worth $8,102,000 after purchasing an additional 14,685 shares during the period. Finally, Carmignac Gestion acquired a new stake in ChemoCentryx in the first quarter worth $5,305,000. Institutional investors own 54.43% of the company’s stock.
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 (AAV).
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