ChemoCentryx (NASDAQ:CCXI) Hits New 12-Month High at $48.29

ChemoCentryx Inc (NASDAQ:CCXI) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $48.29 and last traded at $48.20, with a volume of 6950 shares changing hands. The stock had previously closed at $47.49.

A number of equities analysts recently issued reports on the stock. Canaccord Genuity increased their target price on shares of ChemoCentryx from $16.00 to $48.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. BidaskClub upgraded shares of ChemoCentryx from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th. HC Wainwright increased 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. Piper Jaffray Companies increased their target price on shares of ChemoCentryx from $17.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Raymond James increased 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. ChemoCentryx currently has a consensus rating of “Buy” and an average price target of $43.14.

The stock’s 50-day moving average is $40.70 and its 200-day moving average is $19.28. The stock has a market cap of $2.76 billion, a P/E ratio of -53.30 and a beta of 2.40. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.32.

In other ChemoCentryx news, CFO Susan M. Kanaya sold 311,625 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $31.51, for a total value of $9,819,303.75. Following the completion of the sale, the chief financial officer now directly owns 162,931 shares of the company’s stock, valued at approximately $5,133,955.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Treasurer Markus J. Cappel sold 36,850 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $47.31, for a total transaction of $1,743,373.50. Following the completion of the sale, the treasurer now directly owns 113,097 shares of the company’s stock, valued at $5,350,619.07. The disclosure for this sale can be found here. Insiders sold a total of 1,504,405 shares of company stock valued at $52,465,370 in the last quarter. 12.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Great West Life Assurance Co. Can bought a new position in ChemoCentryx in the fourth quarter worth $111,000. EAM Investors LLC bought a new position in ChemoCentryx in the fourth quarter worth $4,356,000. EAM Global Investors LLC bought a new position in ChemoCentryx in the fourth quarter worth $3,307,000. Bank of Montreal Can lifted its position in ChemoCentryx by 57.6% in the fourth quarter. Bank of Montreal Can now owns 5,623 shares of the biopharmaceutical company’s stock worth $223,000 after purchasing an additional 2,055 shares during the period. Finally, Rafferty Asset Management LLC bought a new position in ChemoCentryx in the fourth quarter worth $463,000. 60.57% of the stock is owned by institutional investors.

ChemoCentryx Company Profile (NASDAQ:CCXI)

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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