Today’s big question for investors is, “what’s going on with ChemoCentryx, Inc. (NASDAQ:CCXI) stock? Its price is jumping 1.83 points, trading at $39.48 levels, and is up 4.86% from its previous close of $37.65. The shares seem to have an active trading volume day with a reported 174453 contracts so far this session. CCXI shares had a relatively better volume day versus average trading capacity of 1.2 million shares, but with a 40.46 million float and a 2.34% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CCXI stock indicates that the average analyst price target is $46 per share. This means the stock has a potential increase of 16.51% from where the CCXI share price has been trading recently.
During the recent trading session for ChemoCentryx, Inc. (NASDAQ:CCXI), the company witnessed their stock rise $0.09 over a week and surge $4.5 from the price 20 days ago. When compared to their established 52-week high of $39.8, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 02/01/20. The recent low of $6.16 stood for a -0.8% since 06/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.36 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for ChemoCentryx, Inc., the two-week RSI stands at 68.39. This figure suggests that CCXI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CCXI readings is similarly very revealing as it has a stochastic reading of 70.47% at this stage. This figure means that CCXI share price today is being oversold.
Technical chart claims that ChemoCentryx, Inc. (CCXI) would settle between $38.63/share to $39.62/share level. However, if the stock price goes below the $36.91 mark, then the market for ChemoCentryx, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $36.18 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.88. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Piper Jaffray lifted target price for shares of CCXI but were stick to Overweight recommendation for the stock in their opinion released on November 26. The price target has been raised from $17 to $54. H.C. Wainwright analysts again handed out a Buy recommendation to ChemoCentryx, Inc. (NASDAQ:CCXI) stock but they lifted target price for the shares in a flash note issued to investors on November 26. The target price has been raised from $23 to $40. Analysts at B. Riley FBR released an upgrade from Neutral to Buy for the stock, in a research note that dated back to March 27.
CCXI equity has an average rating of 1.91, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 6 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 6 analysts rated ChemoCentryx, Inc. (NASDAQ:CCXI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
ChemoCentryx, Inc. (CCXI)’s current-quarter revenues are projected to climb by nearly 3.7% to hit $9.68 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over -16.6% from $42.88 million to a noteworthy $35.76 million. At the other end of the current quarter income statement, ChemoCentryx, Inc. is expected to see its adjusted earnings surge by roughly -19% to hit $-0.25 per share. For the fiscal year, CCXI’s earnings are projected to climb by roughly -27.6% to hit $-0.97 per share.