After Piper Sandler 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 reiterated a Buy rating on ChemoCentryx today and set a price target of $69.00. The company’s shares closed last Monday at $55.50, close to its 52-week high of $59.20.
According to TipRanks.com, White is a top 100 analyst with an average return of 28.5% and a 54.7% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and TRACON Pharmaceuticals.
Currently, the analyst consensus on ChemoCentryx is a Strong Buy with an average price target of $70.33, implying a 42.7% upside from current levels. In a report issued on May 11, 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 March 31, the company reported a quarterly revenue of $5.86 million and GAAP net loss of $21.69 million. In comparison, last year the company earned revenue of $8.33 million and had a GAAP net loss of $11.95 million.
Based on the recent corporate insider activity of 47 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.