Fidelity Management & Research Co… recently announced the acquisition of new stake in ChemoCentryx Inc. (NASDAQ:CCXI). The institutional investor has increased its shareholding in the Healthcare company by 5.79% to 9.25 million shares with purchase of 0.51 million shares. This fresh investment now brings its stake to 14.95% valued currently at $576.9 million. In addition, RA Capital Management LLC raised its holdings by 0.98 million to 4.18 million shares. And Consonance Capital Management LP has lifted its position by 20.83% or 0.4 million shares – to 2.3 million shares.
With over 0.57 million ChemoCentryx Inc. (CCXI) shares trading Monday and a closing price of $57.84 on the day, the dollar volume was approximately $32.69 million. The shares have shown a positive weekly performance of 7.53% and its price on 07/06/20 lost nearly -0.29%. Currently, there are 61.30M common shares owned by the public and among those 49.06M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for CCXI have a consensus price objective of $73.38. The analysts have set the share’s price value over the next 12 months at a high of $95.00 and a low of $64.00 should the stock experience a downside. Incidentally, analysts’ outlook for the ChemoCentryx Inc. stock is 1.50 for the next 12 months. The average price target is 22.58% above its last price level and an upside to the estimated low will see the stock gain 9.62% over that period. But an upside of 39.12% will see the stock hit the forecast high price target while mean target price for the stock is $70.00.
Insiders at the company have transacted a total of 182 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 91 of these insider trades were purchases, accounting for 2,902,634 shares. Insider sales of the common stock occurred on 91 occasions, with total insider shares sold totaling 2,734,041 shares.
The top 3 mutual fund holders in ChemoCentryx Inc. are Fidelity Growth Company Fund, Fidelity Select Port. – Biotechno, and Vanguard Total Stock Market Index. Fidelity Growth Company Fund owns 2.83 million shares of the company’s stock, all valued at over $176.83 million. The company bought an additional 291.0 shares recently to bring their total holdings to about 4.58% of the shares outstanding. Fidelity Select Port. – Biotechno has total holdings of 2.02 million shares valued at over $125.92 million and representing 3.26% of the shares outstanding. Vanguard Total Stock Market Index sold 1221.0 shares to bring its total holdings to over 1.17 million shares at a value of $73.26 million. Vanguard Total Stock Market Index now owns shares totaling to 1.90% of the shares outstanding.
Shares of ChemoCentryx Inc. (NASDAQ: CCXI) opened at $58.45, up $0.44 from a prior closing price of $58.01. However, the script later closed the day at $57.84, down -0.29%. The company’s stock has a 5-day price change of 7.53% and 48.46% over the past three months. CCXI shares are trading 46.25% year to date (YTD), with the 12-month market performance up to 550.62% higher. It has a 12-month low price of $6.16 and touched a high of $65.43 over the same period. Currently, 0.57 million shares have been traded, compared to an average intraday trading volume of 709.87K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.14%, 0.87%, and 57.08% respectively.
Institutional ownership of ChemoCentryx Inc. (NASDAQ: CCXI) shares accounts for 65.60% of the company’s 61.30M shares outstanding. Mutual fund holders own 39.00%, while other institutional holders and individual stakeholders account for 53.12% and 32.54% respectively.
It has a market capitalization of $3.88B and a beta (3y monthly) value of 2.03. The stock’s earnings-per-share (ttm) stands at -$1.10. The company has a Quick Ratio of 3.20 with the debt-to-equity ratio at 0.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.66% over the week and 6.09% over the month.
Analysts forecast that ChemoCentryx Inc. (CCXI) will achieve an EPS of -$0.34 for the current quarter, -$0.33 for the next quarter and -$1.31 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.37 while analysts give the company a high EPS estimate of -$0.31. Comparatively, EPS for the current quarter was -$0.26 a year ago. Earnings per share for the fiscal year are expected to decrease by -28.00%, and 7.70% over the next financial year. EPS over the next five years should compared to 2.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by several brokerage firm advisors rate ChemoCentryx Inc. (CCXI) as a “Strong Buy” at a consensus score of 1.50.
Looking at the support for the CCXI, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on June 17, 2020, with the firm’s price target at $70. Wells Fargo coverage for the ChemoCentryx Inc. (CCXI) stock in a research note released on May 27, 2020 offered a Overweight rating with a price target of $79. H.C. Wainwright was of a view on May 12, 2020 that the stock is Buy, while H.C. Wainwright gave the stock Buy rating on January 24, 2020, issuing a price target of $40- $60. Piper Jaffray on their part issued Overweight rating on November 26, 2019.