After Piper Sandler and H.C. Wainwright gave ChemoCentryx (NASDAQ: CCXI) a Buy rating last month, the company received another Buy, this time from Canaccord Genuity. Analyst Michelle Gilson maintained a Buy rating on ChemoCentryx today and set a price target of $68.00. The company’s shares closed last Tuesday at $56.52.
According to TipRanks.com, Gilson is a 5-star analyst with an average return of 32.1% and a 54.1% success rate. Gilson covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Eloxx Pharmaceuticals, and Homology Medicines.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ChemoCentryx with a $69.83 average price target, which is a 21.6% upside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $54.00 price target.
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Based on ChemoCentryx’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $9.87 million and GAAP net loss of $15.53 million. In comparison, last year the company earned revenue of $9.33 million and had a GAAP net loss of $10.79 million.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is neutral 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. The company was founded by Thomas J. Schall in 1997 and is headquartered in Mountain View, CA.
