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ChemoCentryx (CCXI) Shows Strength: Stock Moves Up 42.4%

ChemoCentryx, Inc. CCXI was a big mover last session, as its shares rose over 42% on the day. The upside was driven by the receipt of licensing rights from Vifor Pharma to commercialize CCX168 in Europe, Canada, Mexico, Central and South America and South Korea. The company has also released its first-quarter 2016 results recently. This also led to far more shares changing hands than in a normal session. Yesterday’s rally reverses the downtrend for the company, as the stock is now trading above the volatile price range of $2.03 to $2.72 in the past one-month time frame.

Over the last 30 days, the company witnessed one positive estimate revision and the Zacks Consensus Estimate also moved higher, suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.

ChemoCentryx currently has a Zacks Rank #2 (Buy).

Another med-drugs stock with the same Zacks Rank is Advanced Accelerator Applications S.A. AAAP.

Is CCXI going up? Or down? Predict to see what others think: Up or Down

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CHEMOCENTRYX (CCXI): Free Stock Analysis Report
 
ADV ACCELERATOR (AAAP): Free Stock Analysis Report
 
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