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TipRanksStock Market NewsCCXI NewsChemoCentryx (CCXI) Received its Third Buy in a Row
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ChemoCentryx (CCXI) Received its Third Buy in a Row

After Stifel Nicolaus and Leerink Partners gave ChemoCentryx (NASDAQ: CCXI) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Edward White maintained a Buy rating on ChemoCentryx today and set a price target of $101.00. The company’s shares closed last Wednesday at $32.73.

According to TipRanks.com, White is a 2-star analyst with an average return of 1.3% and a 32.6% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and Silverback Therapeutics.

Currently, the analyst consensus on ChemoCentryx is a Strong Buy with an average price target of $72.20, a 135.2% upside from current levels. In a report issued on January 17, Leerink Partners also reiterated a Buy rating on the stock with a $64.00 price target.

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Based on ChemoCentryx’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $17.69 million and GAAP net loss of $22.31 million. In comparison, last year the company earned revenue of $5.03 million and had a GAAP net loss of $24.06 million.

Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CCXI in relation to earlier this year. Most recently, in December 2021, Thomas Schall, the President & CEO of CCXI bought 45,936 shares for a total of $499,994.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. The company was founded by Thomas J. Schall in 1997 and is headquartered in Mountain View, CA.

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