Zacks Investment Research upgraded shares of ChemoCentryx, Inc. (NASDAQ:CCXI) from a hold rating to a buy rating in a research report report published on Tuesday morning. The firm currently has $9.00 target price on the biopharmaceutical company’s stock.

According to Zacks, “ChemoCentryx, Inc. is a biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics to treat autoimmune diseases, inflammatory disorders and cancer. ChemoCentryx, Inc. is headquartered in Mountain View, California. “

A number of other analysts have also recently commented on the stock. BidaskClub cut shares of ChemoCentryx from a buy rating to a hold rating in a research note on Friday, August 18th. Cowen and Company reiterated a hold rating on shares of ChemoCentryx in a research note on Tuesday, August 8th.

ChemoCentryx (CCXI) opened at 7.89 on Tuesday. The company’s market cap is $384.29 million. The company’s 50-day moving average is $7.43 and its 200-day moving average is $7.82. ChemoCentryx has a 12 month low of $5.19 and a 12 month high of $10.80.

ChemoCentryx (NASDAQ:CCXI) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The firm had revenue of $8.94 million for the quarter. On average, equities research analysts expect that ChemoCentryx will post ($0.90) EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new stake in ChemoCentryx in the 2nd quarter worth approximately $102,000. JPMorgan Chase & Co. acquired a new stake in ChemoCentryx in the 2nd quarter worth approximately $104,000. Voya Investment Management LLC boosted its stake in ChemoCentryx by 22.8% in the 2nd quarter. Voya Investment Management LLC now owns 15,984 shares of the biopharmaceutical company’s stock worth $150,000 after purchasing an additional 2,965 shares in the last quarter. Trexquant Investment LP boosted its stake in ChemoCentryx by 81.1% in the 2nd quarter. Trexquant Investment LP now owns 18,600 shares of the biopharmaceutical company’s stock worth $174,000 after purchasing an additional 8,327 shares in the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in ChemoCentryx in the 2nd quarter worth approximately $178,000. Institutional investors own 50.12% of the company’s stock.

ChemoCentryx Company Profile

ChemoCentryx, Inc is a biopharmaceutical company. The Company is engaged in developing new medications targeted at inflammatory disorders, autoimmune diseases and cancer. Each of its drug candidates focuses on a specific chemoattractant receptor that selectively blocks its negative inflammatory or suppressive response, leaving the rest of the immune system intact.

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