Raymond James Thinks ChemoCentryx’s Stock is Going to Recover

Raymond James analyst Steven Seedhouse maintained a Buy rating on ChemoCentryx (CCXI) yesterday. The company’s shares closed last Thursday at $11.54, close to its 52-week low of $9.53.

According to TipRanks.com, Seedhouse is a 4-star analyst with an average return of 8.6% and a 47.9% success rate. Seedhouse covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals, Apellis Pharmaceuticals, and Alexion Pharmaceuticals.

ChemoCentryx has an analyst consensus of Moderate Buy, with a price target consensus of $43.17.

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Based on ChemoCentryx’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $10.22 million and GAAP net loss of $29.71 million. In comparison, last year the company earned revenue of $5.86 million and had a GAAP net loss of $21.69 million.

Based on the recent corporate insider activity of 31 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.

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