ChemoCentryx, Inc. (NASDAQ:CCXI) Expected to Post Quarterly Sales of $9.76 Million

Equities analysts expect ChemoCentryx, Inc. (NASDAQ:CCXI) to announce $9.76 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for ChemoCentryx’s earnings, with the highest sales estimate coming in at $34.04 million and the lowest estimate coming in at $2.50 million. ChemoCentryx posted sales of $5.09 million during the same quarter last year, which suggests a positive year over year growth rate of 91.7%. The business is expected to announce its next quarterly earnings report on Monday, November 8th.

On average, analysts expect that ChemoCentryx will report full year sales of $39.40 million for the current financial year, with estimates ranging from $19.67 million to $86.59 million. For the next fiscal year, analysts expect that the business will post sales of $66.74 million, with estimates ranging from $20.00 million to $133.67 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for ChemoCentryx.

ChemoCentryx (NASDAQ:CCXI) last released its quarterly earnings data on Sunday, August 8th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.01). ChemoCentryx had a negative net margin of 568.54% and a negative return on equity of 33.17%. The firm had revenue of $1.81 million during the quarter, compared to the consensus estimate of $4.85 million. During the same quarter last year, the business posted $0.29 earnings per share. ChemoCentryx’s revenue was down 96.3% compared to the same quarter last year.

CCXI has been the subject of several recent analyst reports. Stifel Nicolaus upgraded ChemoCentryx from a “hold” rating to a “buy” rating and upped their price target for the stock from $26.00 to $31.00 in a research note on Tuesday, July 6th. Canaccord Genuity decreased their target price on ChemoCentryx from $79.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $37.88.

Hedge funds and other institutional investors have recently bought and sold shares of the company. HRT Financial LP acquired a new stake in shares of ChemoCentryx during the first quarter worth $271,000. BlackRock Inc. boosted its holdings in ChemoCentryx by 3.6% in the 1st quarter. BlackRock Inc. now owns 4,976,595 shares of the biopharmaceutical company’s stock valued at $255,000,000 after purchasing an additional 171,898 shares during the period. Royal Bank of Canada lifted its holdings in shares of ChemoCentryx by 1,443.2% during the 1st quarter. Royal Bank of Canada now owns 3,966 shares of the biopharmaceutical company’s stock worth $203,000 after acquiring an additional 3,709 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in shares of ChemoCentryx during the 1st quarter worth approximately $1,990,000. Finally, Price T Rowe Associates Inc. MD increased its position in ChemoCentryx by 8.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 436,276 shares of the biopharmaceutical company’s stock worth $22,355,000 after purchasing an additional 33,148 shares in the last quarter. 63.20% of the stock is owned by institutional investors.

ChemoCentryx stock traded up $0.58 during mid-day trading on Friday, reaching $16.57. The stock had a trading volume of 2,036,075 shares, compared to its average volume of 2,073,133. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.73. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -9.28 and a beta of 1.46. The company has a 50-day moving average price of $15.28 and a two-hundred day moving average price of $26.09. ChemoCentryx has a one year low of $9.53 and a one year high of $70.29.

About ChemoCentryx

ChemoCentryx, Inc is a biopharmaceutical company engages in the development and commercialization of medicines. It focuses on inflammatory disorders, autoimmune diseases, and cancer. Its drug candidates such as Avacopan and CCX140, selectively blocks a specific chemoattractant receptor, leaving the rest of the immune system intact.

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Earnings History and Estimates for ChemoCentryx (NASDAQ:CCXI)

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