ChemoCentryx Inc (NASDAQ:CCXI) Expected to Announce Earnings of -$0.27 Per Share

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Equities research analysts expect that ChemoCentryx Inc (NASDAQ:CCXI) will announce earnings of ($0.27) per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for ChemoCentryx’s earnings, with estimates ranging from ($0.32) to ($0.23). ChemoCentryx posted earnings of ($0.21) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 28.6%. The firm is scheduled to report its next earnings report on Monday, March 9th.

On average, analysts expect that ChemoCentryx will report full-year earnings of ($0.98) per share for the current year, with EPS estimates ranging from ($1.04) to ($0.94). For the next year, analysts anticipate that the firm will post earnings of ($1.51) per share, with EPS estimates ranging from ($1.72) to ($1.37). Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow ChemoCentryx.

Several analysts have commented on the stock. ValuEngine cut shares of ChemoCentryx from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. BidaskClub upgraded shares of ChemoCentryx from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th. Raymond James upped their target price on shares of ChemoCentryx from $17.00 to $56.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 26th. HC Wainwright upped their target price on shares of ChemoCentryx from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, Zacks Investment Research cut shares of ChemoCentryx from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.71.

Shares of ChemoCentryx stock traded down $0.72 on Friday, hitting $48.87. 308,980 shares of the company’s stock traded hands, compared to its average volume of 612,162. The firm’s 50-day moving average price is $42.98 and its two-hundred day moving average price is $21.33. The stock has a market capitalization of $2.83 billion, a PE ratio of -53.12 and a beta of 2.40. ChemoCentryx has a one year low of $6.16 and a one year high of $51.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.12 and a quick ratio of 3.12.

In related news, Treasurer Markus J. Cappel sold 330,524 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $32.03, for a total value of $10,586,683.72. Following the completion of the sale, the treasurer now owns 99,764 shares in the company, valued at approximately $3,195,440.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Treasurer Markus J. Cappel sold 42,631 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $50.36, for a total transaction of $2,146,897.16. Following the completion of the sale, the treasurer now owns 118,878 shares of the company’s stock, valued at approximately $5,986,696.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,653,818 shares of company stock valued at $59,922,468. 12.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in ChemoCentryx by 37.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,774,489 shares of the biopharmaceutical company’s stock worth $16,502,000 after purchasing an additional 488,063 shares during the period. Invesco Ltd. boosted its stake in ChemoCentryx by 8.5% in the 2nd quarter. Invesco Ltd. now owns 161,723 shares of the biopharmaceutical company’s stock worth $1,504,000 after purchasing an additional 12,735 shares during the period. Bank of America Corp DE boosted its stake in ChemoCentryx by 7.0% in the 2nd quarter. Bank of America Corp DE now owns 99,304 shares of the biopharmaceutical company’s stock worth $923,000 after purchasing an additional 6,487 shares during the period. UBS Asset Management Americas Inc. acquired a new position in ChemoCentryx in the 2nd quarter worth $201,000. Finally, Nuveen Asset Management LLC acquired a new position in ChemoCentryx in the 2nd quarter worth $3,750,000. Institutional investors and hedge funds 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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Earnings History and Estimates for ChemoCentryx (NASDAQ:CCXI)

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