In a report released yesterday, Michelle Gilson from Canaccord Genuity maintained a Buy rating on ChemoCentryx (CCXI), with a price target of $75.00. The company’s shares closed last Tuesday at $53.66.
According to TipRanks.com, Gilson is a 5-star analyst with an average return of 33.4% and a 60.3% success rate. Gilson covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical, Homology Medicines, and Stoke Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ChemoCentryx with a $75.17 average price target, representing a 36.7% upside. In a report issued on July 29, J.P. Morgan also maintained a Buy rating on the stock with a $61.00 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 $7.17 million and had a GAAP net loss of $15.15 million.
Based on the recent corporate insider activity of 58 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.
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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.
