NasdaqGS:CCXI

Stock Analysis Report

Executive Summary

ChemoCentryx, Inc., a clinical-stage biopharmaceutical company, develops new medications for inflammatory and autoimmune diseases, and cancer in the United States.

Rewards

Trading at 46.6% below its fair value

Revenue is forecast to grow 43.94% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Highly volatile share price over past 3 months

Shareholders have been diluted in the past year



Snowflake Analysis

Excellent balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has ChemoCentryx's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CCXI's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-1.6%

CCXI

0.06%

US Biotechs

1.8%

US Market


1 Year Return

338.0%

CCXI

11.0%

US Biotechs

20.1%

US Market

Return vs Industry: CCXI exceeded the US Biotechs industry which returned 11% over the past year.

Return vs Market: CCXI exceeded the US Market which returned 20.1% over the past year.


Shareholder returns

CCXIIndustryMarket
7 Day-1.6%0.06%1.8%
30 Day9.9%0.5%1.4%
90 Day451.7%10.4%8.8%
1 Year338.0%338.0%12.0%11.0%22.7%20.1%
3 Year581.8%581.8%16.8%13.6%50.1%40.4%
5 Year486.1%486.1%-1.2%-6.0%72.9%53.9%

Price Volatility Vs. Market

How volatile is ChemoCentryx's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is ChemoCentryx undervalued compared to its fair value and its price relative to the market?

46.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CCXI ($48) is trading below our estimate of fair value ($89.95)

Significantly Below Fair Value: CCXI is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CCXI is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: CCXI is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CCXI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CCXI is overvalued based on its PB Ratio (45.2x) compared to the US Biotechs industry average (3.2x).


Next Steps

Future Growth

How is ChemoCentryx forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

40.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CCXI is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: CCXI is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: CCXI is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: CCXI's revenue (43.9% per year) is forecast to grow faster than the US market (7.6% per year).

High Growth Revenue: CCXI's revenue (43.9% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CCXI is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has ChemoCentryx performed over the past 5 years?

16.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CCXI is currently unprofitable.

Growing Profit Margin: CCXI is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CCXI is unprofitable, but has reduced losses over the past 5 years at a rate of 16.8% per year.

Accelerating Growth: Unable to compare CCXI's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CCXI is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (66.2%).


Return on Equity

High ROE: CCXI has a negative Return on Equity (-82.03%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is ChemoCentryx's financial position?


Financial Position Analysis

Short Term Liabilities: CCXI's short term assets ($172.5M) exceed its short term liabilities ($55.4M).

Long Term Liabilities: CCXI's short term assets ($172.5M) exceed its long term liabilities ($95.1M).


Debt to Equity History and Analysis

Debt Level: CCXI's debt to equity ratio (31.9%) is considered satisfactory.

Reducing Debt: CCXI's debt to equity ratio has increased from 0.04% to 31.9% over the past 5 years.


Balance Sheet

Inventory Level: CCXI has a low level of unsold assets or inventory.

Debt Coverage by Assets: CCXI's debt is covered by short term assets (assets are 8.7x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CCXI has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: CCXI has sufficient cash runway for 1.8 years if free cash flow continues to grow at historical rates of 14.5% each year.


Next Steps

Dividend

What is ChemoCentryx's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate CCXI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CCXI's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CCXI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CCXI's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CCXI's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.5yrs

Average management tenure


CEO

Thomas Schall (60yo)

23.1yrs

Tenure

US$3,862,225

Compensation

Dr. Thomas J. Schall, Ph.D. Founded ChemoCentryx Inc. in November 1996 and has been its Chief Executive Officer and President since 1997. Dr. Schall focuses on the discovery and development of chemokine-ba ...


CEO Compensation Analysis

Compensation vs Market: Thomas's total compensation ($USD3.86M) is about average for companies of similar size in the US market ($USD4.88M).

Compensation vs Earnings: Thomas's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Schall
Founder23.1yrsUS$3.86m3.89% $108.9m
Susan Kanaya
Executive VP3.3yrsUS$1.73m0.32% $8.9m
Rajinder Singh
Senior VP & Head of Pharmaceutics3.8yrsUS$900.75k0.018% $509.6k
Markus Cappel
Senior VP15.5yrsUS$1.24m0.13% $3.7m
Catherine Kelleher
Senior Vice President of Clinical Development0.8yrsno datano data
Dalia Rayes
Senior VP & Head of Commercial1.1yrsno datano data

3.5yrs

Average Tenure

57yo

Average Age

Experienced Management: CCXI's management team is considered experienced (3.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Thomas Schall
Founder23.1yrsUS$3.86m3.89% $108.9m
Henry McKinnell
Independent Director3.3yrsUS$287.70k0.10% $2.9m
James Tyree
Independent Director7.7yrsUS$302.70k0.0092% $256.5k
Joseph Feczko
Independent Director7.8yrsUS$287.70k0.17% $4.7m
Edward Mocarski
Member of Scientific Advisory Board0yrsno datano data
Craig Gerard
Member of Scientific Advisory Board0yrsno datano data
Henry Showell
Member of Scientific Advisory Board0yrsno datano data
Richard Ransohoff
Member of Scientific Advisory Board0yrsno datano data
Thomas Edwards
Independent Director4.6yrsUS$294.49k0.28% $7.8m
Geoffrey Parker
Director10.2yrsUS$267.70k0.32% $9.1m

7.8yrs

Average Tenure

63yo

Average Age

Experienced Board: CCXI's board of directors are considered experienced (7.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11%.


Top Shareholders

Company Information

ChemoCentryx, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: ChemoCentryx, Inc.
  • Ticker: CCXI
  • Exchange: NasdaqGS
  • Founded: 1997
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$2.797b
  • Shares outstanding: 58.27m
  • Website: https://www.chemocentryx.com

Number of Employees


Location

  • ChemoCentryx, Inc.
  • 850 Maude Avenue
  • Mountain View
  • California
  • 94043
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CCXINasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDFeb 2012
2CXDB (Deutsche Boerse AG)YesCommon StockDEEURFeb 2012

Biography

ChemoCentryx, Inc., a clinical-stage biopharmaceutical company, develops new medications for inflammatory and autoimmune diseases, and cancer in the United States. The company targets the chemokine and chemoattractant systems to discover, develop, and commercialize orally-administered therapies. Its lead drug candidate is Avacopan, an orally-administered complement inhibitor of the complement C5a receptor (C5aR), is in Phase III development for the treatment of anti-neutrophil cytoplasmic auto-antibody-associated vasculitis. The company is also developing Avacopan for the treatment of patients with complement 3 glomerulopathy and hidradenitis suppurativa. In addition, the company is developing CCX140, an inhibitor of the chemokine receptor known as CCR2, which has completed a Phase II clinical trial in diabetic nephropathy and is being developed for patients with focal segmental glomerulosclerosis. Further, it has early stage drug candidates that target chemoattractant receptors in other inflammatory and autoimmune diseases, and in cancer. The company was founded in 1997 and is headquartered in Mountain View, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/17 00:20
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.