Back to top

Image: Bigstock

Why ChemoCentryx (CCXI) Stock Might be a Great Pick

Read MoreHide Full Article

One stock that might be an intriguing choice for investors right now is ChemoCentryx, Inc. (CCXI - Free Report) . This is because this security in the Medical - Drugs space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Medical - Drugs space as it currently has a Zacks Industry Rank of 60 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, ChemoCentryx is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

In fact, over the past month, current quarter estimates have narrowed from a loss of 31 cents per share to a loss of 30 cents per share, while current year estimates have narrowed from a loss of $1.47 per share to a loss of $1.31 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So, if you are looking for a decent pick in a strong industry, consider ChemoCentryx . Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.

This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.

See their latest picks free >>
 


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


ChemoCentryx, Inc. (CCXI) - free report >>