why ChemoCentryx Inc. [CCXI] is a Good Choice for Investors After New Price Target of $32.50

ChemoCentryx Inc. [NASDAQ: CCXI] traded at a low on 10/12/21, posting a -11.11 loss after which it closed the day’ session at $36.00. The company report on October 11, 2021 that ChemoCentryx Appoints Rita I. Jain, M.D. as Executive Vice President, Chief Medical Officer.

Appointment Brings More than 20 Years of Drug Development Experience as Company Launches First Product.

ChemoCentryx, Inc., (Nasdaq: CCXI), announced the appointment of Rita I. Jain, M.D., as Executive Vice President, Chief Medical Officer. In this role, she will oversee development activities including clinical development, development operations, regulatory affairs, and drug safety and pharmacovigilance. Dr. Jain will continue to serve on the ChemoCentryx board of directors (where she has served since March of 2019) as an executive employee director. Dr. Jain, a board-certified rheumatologist, brings more than 20 years of drug development experience leading multiple global programs across early and late stages of development.

The results of the trading session contributed to over 15527445 shares changing hands. Over the past one week, the price volatility of ChemoCentryx Inc. stands at 22.23% while the volatility over the past one month is 10.11%.

The market cap for CCXI stock reached $1.28 billion, with 69.79 million shares outstanding and 53.61 million shares in the current float. Compared to the average trading volume of 4.50M shares, CCXI reached a trading volume of 15527445 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ChemoCentryx Inc. [CCXI]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CCXI shares is $32.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CCXI stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

SVB Leerink have made an estimate for ChemoCentryx Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 11, 2021. While these analysts kept the previous recommendation, JP Morgan raised their target price from $14 to $38. The new note on the price target was released on October 11, 2021, representing the official price target for ChemoCentryx Inc. stock. Previously, the target price had yet another raise from $62 to $107, while Raymond James kept a Strong Buy rating on CCXI stock.

The Average True Range (ATR) for ChemoCentryx Inc. is set at 3.28, with the Price to Sales ratio for CCXI stock in the period of the last 12 months amounting to 59.45. The Price to Book ratio for the last quarter was 7.61, with the Price to Cash per share for the same quarter was set at 8.76.

How has CCXI stock performed recently?

ChemoCentryx Inc. [CCXI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 89.47. With this latest performance, CCXI shares gained by 126.27% in over the last four-week period, additionally sinking by -23.70% over the last 6 months – not to mention a drop of -39.26% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CCXI stock in for the last two-week period is set at 76.66, with the RSI for the last a single of trading hit 76.55, and the three-weeks RSI is set at 75.78 for ChemoCentryx Inc. [CCXI]. The present Moving Average for the last 50 days of trading for this stock 17.45, while it was recorded at 30.62 for the last single week of trading, and 33.56 for the last 200 days.

ChemoCentryx Inc. [CCXI]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ChemoCentryx Inc. [CCXI] shares currently have an operating margin of -85.03. ChemoCentryx Inc.’s Net Margin is presently recorded at -85.31.

Return on Total Capital for CCXI is now -20.53, given the latest momentum, and Return on Invested Capital for the company is -20.94. Return on Equity for this stock declined to -24.51, with Return on Assets sitting at -15.21. When it comes to the capital structure of this company, ChemoCentryx Inc. [CCXI] has a Total Debt to Total Equity ratio set at 16.57. Additionally, CCXI Total Debt to Total Capital is recorded at 14.22, with Total Debt to Total Assets ending up at 12.32. Long-Term Debt to Equity for the company is recorded at 14.72, with the Long-Term Debt to Total Capital now at 12.63.

Reflecting on the efficiency of the workforce at the company, ChemoCentryx Inc. [CCXI] managed to generate an average of -$416,211 per employee. Receivables Turnover for the company is 376.18 with a Total Asset Turnover recorded at a value of 0.18.ChemoCentryx Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.70 and a Current Ratio set at 5.70.

Insider trade positions for ChemoCentryx Inc. [CCXI]

There are presently around $1,611 million, or 64.80% of CCXI stock, in the hands of institutional investors. The top three institutional holders of CCXI stocks are: FMR LLC with ownership of 10,462,435, which is approximately 0.196% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 4,859,704 shares of the stock with an approximate value of $174.95 million in CCXI stocks shares; and STATE STREET CORP, currently with $170.05 million in CCXI stock with ownership of nearly 161.499% of the company’s market capitalization.

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Positions in ChemoCentryx Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 88 institutional holders increased their position in ChemoCentryx Inc. [NASDAQ:CCXI] by around 10,420,864 shares. Additionally, 107 investors decreased positions by around 21,094,273 shares, while 17 investors held positions by with 13,248,651 shares. The mentioned changes placed institutional holdings at 44,763,788 shares, according to the latest SEC report filing. CCXI stock had 32 new institutional investments in for a total of 3,773,305 shares, while 65 institutional investors sold positions of 17,853,811 shares during the same period.

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