ChemoCentryx, Inc. (NASDAQ:CCXI)

Despite my distaste for green thumbing biopharmas already on an upswing, I see ChemoCentryx as undervalued at this level given their multiple compounds in advanced clinical trials for various indications and a strong partnership with GSK.

Having IPO'd just a few months ago, ChemoCentryx is weakly followed and lacks objective vetting. However, their chemokine receptor focus has been extensively validated by academic research and has been addressed by other biopharmas such as Pharmacopeia and Incyte (although I believe those programs to be currently inactive).

The company is somewhat reticent when it comes to updating the progress of ongoing studies, but I believe once the street becomes more aware of the four ongoing SHIELD phase III trials being run by Glaxo for moderate-to-severe Crohn's the cap will break 600M. Meanwhile the company is well-capitalized with a strong balance sheet.