Should ChemoCentryx Be in Your Portfolio?

NASDAQ: CCXI | ChemoCentryx, Inc. News, Ratings, and Charts

CCXI – Biotech and pharmaceutical stocks have come to the forefront due to the pandemic. ChemoCentryx (CCXI) aims to provide therapies to combat cancer, autoimmune diseases, and inflammatory disorders, but is it a buy? Read more to find out.

ChemoCentryx (CCXI) is a biopharmaceutical business that develops therapeutics and brings them to market. CCXI therapeutics are administered orally instead of through a patch, gel, injection, or another delivery method.

CCXI’s overarching goal is to provide the masses with therapeutics that combat different types of cancer, autoimmune diseases, and inflammatory disorders. This is certainly a desirable aim, yet reaching it is not exactly easy. As medical industry insiders admit, it might take decades or even centuries to develop a cure for cancer.

Does CCXI belong in your portfolio? Let’s take a look at the details of this biopharmaceutical stock to answer that question.

CCXI Points of Note

CCXI is currently trading at $10.73. The stock’s 52-week low is $9.55. CCXI’s 52-week high is $70.29. The low price is certainly intriguing. However, those who research CCXI will find the stock’s low price should not be construed as a buying opportunity.

CCXI fell off a cliff last week after the United States Food and Drug Administration (FDA) publicized briefing information provided to an advisory committee stating considerable concerns regarding CCXI’s avacopan data. Avacopan is a drug created to treat ANCA-vasculitis. 

ANCA is an acronym short for anti-neutrophilic cytoplasmic autoantibody. Avacopan is designed to prevent small blood vessels from swelling. The advisory committee did not vote against the formal approval of avacopan. However, these documents made it quite clear that there are legitimate doubts about whether avacopan will be approved for release in the market.

To be more specific, the language of the briefing documents states there are concerns that the data cannot be interpreted to show the avacopan provides a substantial benefit. The news should not have shell-shocked investors because the FDA previously stated it had notified the company that there were concerns about the drug’s late-stage study design. 

The committee voted ten yay and eight nay for the drug’s approval. The vote about the efficacy of information stemming from CCXI’s clinical study ended in a tie, with nine yays and nine nays.

The committee voted ten yays to eight nays in regard to avacopan’s safety profile being sufficient enough to win approval from the FDA. It must be noted the FDA is not obligated to adhere to the advisory committee’s recommendations. However, the FDA is typically in lockstep with committee recommendations. 

In short, there is some question as to whether the FDA will move forward with the approval of avacopan. Those who study such drugs and the biopharma industry as a whole indicate CCXI will likely be forced to complete a subsequent clinical study prior to refiling for approval.

CCXI According to Analysts

Analysts have high hopes for CCXI, establishing an average target price of $88.88 for the stock. If CCXI reaches this level, it will have popped by an astonishing 233%. Of the eight analysts who have issued recommendations on CCXI, four rate the stock a Strong Buy, three rate it a Buy, and one rates it as a Hold.

CCXI POWR Ratings Performance

CCXI has an overall grade of D, which translates into a Sell rating in the POWR Ratings. The stock has grades of D in the Growth, Momentum, and Stability components. Click here to learn more about how CCXI fares in the Value, Quality, and Sentiment components.

Out of the nearly 500 publicly traded companies in the Biotech industry, CCXI is ranked 417th. Investors can find top stocks in this industry by clicking here

Is CCXI Deserving of a Place in Your Portfolio?

CCXI is not worthy of your hard-earned money at this point. CCXI has a Sell rating in the POWR Ratings and is ranked in the bottom 25% of stocks in the Biotech industry.


CCXI shares fell $0.16 (-1.49%) in premarket trading Wednesday. Year-to-date, CCXI has declined -82.74%, versus a 10.44% rise in the benchmark S&P 500 index during the same period.


About the Author: Patrick Ryan


Patrick Ryan has more than a dozen years of investing experience with a focus on information technology, consumer and entertainment sectors. In addition to working for StockNews, Patrick has also written for Wealth Authority and Fallon Wealth Management. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
CCXIGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


Updated 2024 Stock Market Outlook

The bull market continues to rage on with the S&P 500 (SPY) making new highs. That is the past...the question is what does the future hold? That is why 44 year investment veteran Steve Reitmeister provides this updated 2024 Stock Market Outlook to help you carve a path to outperformance the rest of the year. Read on below for the full story...

3 Energy Stocks Set to Soar Beyond Expectations

Given the geopolitical tensions, increasing global oil demand, and supply adjustments, the energy sector is poised for robust growth. Therefore, investors might consider investing in energy stocks TechnipFMC (FTI), Weatherford International (WFRD), and ChampionX (CHX), which are poised to exceed expectations. Keep reading…

Has Carnival (CCL) Stock Turned Into a Buy After Earnings Release?

Carnival Corporation (CCL) reported record revenue in its most recent quarter but still faces a negative bottom line. The collapse of Francis Scott Key Bridge brings more uncertainty to its financials. Given these events, what stance should one take with CCL stock? Read more to find out…

3 China Stocks Positioned for Long-Term Growth

Despite facing challenges, the Chinese economy has demonstrated resilience, as evidenced by recent robust industrial output and retail sales data. Given this outlook, it might be an opportune time to own three top-notch China stocks, JD.com, Inc. (JD), China Automotive Systems (CAAS), and Youdao, Inc. (DAO). Read on…

Investor Alert: “Buy the Rumor, Sell the News!”

Everyone knows that the Fed is going to cut rates at some point this year. That is the worst kept secret on the planet helping to explain how we keep making new highs for the for the S&P 500 (SPY). Unfortunately that creates an interesting predicament for stocks after rates are cut. Plus another hurdle in the 2024 Presidential election. Steve Reitmeister is here to share his insights on the market outlook along with a preview of his top 12 stocks to outperform. Read on for more...

Read More Stories

More ChemoCentryx, Inc. (CCXI) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All CCXI News