UPDATE: ChemoCentryx (CCXI) PT Raised to $65 at Canaccord Genuity After Management NDR

October 18, 2021 7:02 AM EDT
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Price: $38.36 -1.34%

Rating Summary:
    11 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 2 | New: 5
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(Updated - October 18, 2021 7:21 AM EDT)

Canaccord Genuity analyst Michelle Gilson raised the price target on ChemoCentryx (NASDAQ: CCXI) to $65.00 (from $64.00) after hosting three KOL calls to better understand how Tavneos will be introduced into clinical practice and identify potential challenges in the upcoming launch.

The analyst reiterated a Buy rating, stating "Our key takeaway is that management expects to deliver mid 20% annual growth for the foreseeable future, and thus we believe investors need to align expectations accordingly. DOMO’s ability to increase sales capacity alone should support the current growth profile. Further expansions with large customers and meaningful partner traction would be required to achieve higher growth, which we expect to occur over time, but these dynamics appear unlikely to manifest over the next couple of quarters. We continue to believe DOMO is well positioned as a differentiated cloud BI player, and reiterate our BUY recommendation."

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