$9.42 Million in Sales Expected for ChemoCentryx Inc (NASDAQ:CCXI) This Quarter

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Brokerages expect that ChemoCentryx Inc (NASDAQ:CCXI) will report $9.42 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for ChemoCentryx’s earnings, with estimates ranging from $8.00 million to $10.58 million. ChemoCentryx reported sales of $9.33 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1%. The firm is expected to report its next quarterly earnings report on Monday, March 9th.

On average, analysts expect that ChemoCentryx will report full-year sales of $35.50 million for the current fiscal year, with estimates ranging from $34.08 million to $36.66 million. For the next year, analysts anticipate that the business will post sales of $36.24 million, with estimates ranging from $30.00 million to $40.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow ChemoCentryx.

CCXI has been the topic of several research analyst reports. Piper Jaffray Companies increased their price target on shares of ChemoCentryx from $17.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. increased their price target on shares of ChemoCentryx from $28.00 to $60.00 and gave the company a “positive” rating in a report on Tuesday. HC Wainwright increased their price target on shares of ChemoCentryx from $40.00 to $60.00 and gave the company a “buy” rating in a report on Friday, January 24th. BidaskClub raised shares of ChemoCentryx from a “buy” rating to a “strong-buy” rating in a report on Friday, February 7th. Finally, Raymond James increased their price target on shares of ChemoCentryx from $17.00 to $56.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $47.71.

ChemoCentryx stock traded down $0.72 during trading hours on Friday, hitting $48.87. The company had a trading volume of 308,980 shares, compared to its average volume of 612,162. The firm has a market cap of $2.83 billion, a PE ratio of -53.12 and a beta of 2.40. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.12 and a quick ratio of 3.12. ChemoCentryx has a one year low of $6.16 and a one year high of $51.36. The firm has a 50-day moving average of $42.98 and a 200 day moving average of $21.33.

In other ChemoCentryx news, CEO Thomas J. Schall sold 279,166 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $31.55, for a total transaction of $8,807,687.30. Following the transaction, the chief executive officer now owns 2,508,021 shares in the company, valued at approximately $79,128,062.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Susan M. Kanaya sold 311,625 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $31.51, for a total transaction of $9,819,303.75. Following the transaction, the chief financial officer now owns 162,931 shares in the company, valued at approximately $5,133,955.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,653,818 shares of company stock worth $59,922,468. Company insiders own 12.20% of the company’s stock.

Several large investors have recently made changes to their positions in CCXI. CWM LLC acquired a new position in shares of ChemoCentryx during the 4th quarter worth approximately $40,000. Quantbot Technologies LP acquired a new position in shares of ChemoCentryx during the 4th quarter worth approximately $98,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ChemoCentryx by 131.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,586 shares of the biopharmaceutical company’s stock worth $102,000 after purchasing an additional 1,467 shares in the last quarter. Metropolitan Life Insurance Co NY grew its position in shares of ChemoCentryx by 70.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 14,981 shares of the biopharmaceutical company’s stock worth $102,000 after purchasing an additional 6,177 shares in the last quarter. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of ChemoCentryx during the 4th quarter worth approximately $111,000. Hedge funds and other institutional investors own 66.24% 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.

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