Chimerix Inc. (CMRX) Lifted to Buy at Zacks Investment Research
Chimerix Inc. (NASDAQ:CMRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $6.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s target price points to a potential upside of 9.89% from the stock’s current price.
According to Zacks, “Chimerix, Inc. engages in the discovery, development and commercialization of oral antiviral therapeutics for various medical needs. The Company is developing various product candidates for the treatment of dsDNA viruses, HIV, hepatitis C, influenza and smallpox which are under different phases of clinical development. It is also screening our proprietary Chimerix Chemical Library for compounds with activity against dengue virus, malaria and tuberculosis. Chimerix, Inc. is headquartered in Durham, North Carolina. “
Other analysts have also issued reports about the company. Piper Jaffray Cos. set a $12.00 price objective on Chimerix and gave the company a “buy” rating in a research note on Thursday, August 18th. FBR & Co decreased their price objective on Chimerix from $9.00 to $8.00 and set a “mkt perform” rating on the stock in a research note on Tuesday, August 9th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $7.00 price objective on shares of Chimerix in a research note on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Chimerix has a consensus rating of “Hold” and a consensus target price of $12.38.
Shares of Chimerix (NASDAQ:CMRX) traded down 1.09% during mid-day trading on Tuesday, hitting $5.46. The stock had a trading volume of 323,717 shares. The stock’s market cap is $252.33 million. Chimerix has a 12 month low of $3.50 and a 12 month high of $43.37. The firm has a 50 day moving average price of $5.03 and a 200-day moving average price of $4.78.
Chimerix (NASDAQ:CMRX) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.12. The firm had revenue of $1.80 million for the quarter, compared to analyst estimates of $1.98 million. Chimerix had a negative return on equity of 34.75% and a negative net margin of 1,356.50%. On average, equities research analysts forecast that Chimerix will post ($1.78) EPS for the current year.
In other news, insider M Michelle Berrey acquired 22,417 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was purchased at an average cost of $4.47 per share, for a total transaction of $100,203.99. Following the acquisition, the insider now owns 281,238 shares of the company’s stock, valued at $1,257,133.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John M. Leonard sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $5.03, for a total value of $25,150.00. The disclosure for this sale can be found here. 10.50% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of CMRX. UBS Asset Management Americas Inc. boosted its position in Chimerix by 5.1% in the first quarter. UBS Asset Management Americas Inc. now owns 3,256,191 shares of the biopharmaceutical company’s stock worth $16,640,000 after buying an additional 156,969 shares during the last quarter. Geode Capital Management LLC boosted its position in Chimerix by 1.0% in the first quarter. Geode Capital Management LLC now owns 286,085 shares of the biopharmaceutical company’s stock worth $1,461,000 after buying an additional 2,755 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Chimerix during the first quarter worth about $3,272,000. Sabby Management LLC purchased a new position in Chimerix during the first quarter worth about $274,000. Finally, A.R.T. Advisors LLC boosted its position in Chimerix by 3,008.7% in the first quarter. A.R.T. Advisors LLC now owns 866,059 shares of the biopharmaceutical company’s stock worth $4,425,000 after buying an additional 838,200 shares during the last quarter. Hedge funds and other institutional investors own 66.12% of the company’s stock.
Chimerix Company Profile
Chimerix, Inc (Chimerix) is a biopharmaceutical company. The Company is focused on discovering, developing and commercializing oral antivirals. The Company, based on its lipid conjugate technology, has developed its lead compound, brincidofovir (BCV, CMX001), which is in Phase III clinical development.
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