Chimerix Inc. (CMRX) Downgraded by Zacks Investment Research to Hold
Chimerix Inc. (NASDAQ:CMRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Several other research analysts also recently commented on the company. Piper Jaffray Cos. set a $12.00 price objective on Chimerix and gave the stock a “buy” rating in a report on Thursday, August 18th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $7.00 target price on shares of Chimerix in a research report on Tuesday, August 9th. Finally, FBR & Co dropped their target price on Chimerix from $9.00 to $8.00 and set a “mkt perform” rating on the stock in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $12.38.
Chimerix (NASDAQ:CMRX) traded up 4.99% on Tuesday, hitting $4.84. The stock had a trading volume of 450,767 shares. Chimerix has a 52-week low of $3.50 and a 52-week high of $43.37. The company has a 50-day moving average price of $5.16 and a 200 day moving average price of $4.78. The firm’s market cap is $223.68 million.
Chimerix (NASDAQ:CMRX) last issued its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.12. Chimerix had a negative return on equity of 34.75% and a negative net margin of 1,356.50%. The firm had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.98 million. Equities analysts forecast that Chimerix will post ($1.78) earnings per share for the current fiscal year.
In other Chimerix news, Director John M. Leonard sold 5,000 shares of Chimerix stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $5.03, for a total transaction of $25,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider M Michelle Berrey acquired 22,417 shares of Chimerix stock in a transaction on Monday, August 29th. The shares were bought at an average price of $4.47 per share, with a total value of $100,203.99. Following the purchase, the insider now directly owns 281,238 shares in the company, valued at approximately $1,257,133.86. The disclosure for this purchase can be found here. 10.50% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Investment Management LLC raised its position in Chimerix by 19.1% in the second quarter. BlackRock Investment Management LLC now owns 185,972 shares of the biopharmaceutical company’s stock worth $731,000 after buying an additional 29,851 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in Chimerix during the second quarter worth $103,000. Dimensional Fund Advisors LP raised its position in Chimerix by 103.2% in the second quarter. Dimensional Fund Advisors LP now owns 153,408 shares of the biopharmaceutical company’s stock worth $603,000 after buying an additional 77,900 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Chimerix during the second quarter worth $322,000. Finally, GSA Capital Partners LLP bought a new position in Chimerix during the second quarter worth $349,000. Institutional investors and hedge funds own 66.13% 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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