“We base our $20 price target on probability-adjusted revenue forecasts for avacopan in AAV and C3G. We use the net present value of our revenue forecast through 2028, apply a 30% probability of success (POS) for avacopan in AAV, a 25% POS for avacopan in C3G, a 3x price/sales multiple, and use our estimated fully diluted year end 2018 net cash of $2.58/ share to arrive at our price target. Our P/S multiple of 3x is in-line with ChemoCentryx’s peers that range between 2-5x.”
According to TipRanks.com, White is a 5-star analyst with an average return of 14.9% and a 46.6% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
ChemoCentryx has an analyst consensus of Moderate Buy, with a price target consensus of $16.38.
The company has a one-year high of $15.08 and a one-year low of $5.42. Currently, ChemoCentryx has an average volume of 231.8K.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock.
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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.