Chimerix Inc. (CMRX) Rating Increased 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 research report issued on Tuesday. The brokerage currently has a $6.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s price target suggests a potential upside of 8.30% from the stock’s previous close.
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. “
A number of other research firms have also recently weighed in on CMRX. Piper Jaffray Cos. set a $12.00 price objective on shares of Chimerix and gave the stock a “buy” rating in a research report on Thursday, August 18th. FBR & Co reduced their price objective on shares of Chimerix from $9.00 to $8.00 and set a “mkt perform” rating for the company in a research report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $7.00 target price on shares of Chimerix in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.38.
Chimerix (NASDAQ:CMRX) opened at 5.54 on Tuesday. The company’s 50-day moving average is $5.08 and its 200 day moving average is $4.79. The stock’s market capitalization is $256.03 million. Chimerix has a 1-year low of $3.50 and a 1-year high of $43.37.
Chimerix (NASDAQ:CMRX) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.12. The company earned $1.80 million during the quarter, compared to analysts’ expectations of $1.98 million. Chimerix had a negative net margin of 1,356.50% and a negative return on equity of 34.75%. Equities analysts predict that Chimerix will post ($1.78) earnings per share for the current year.
In other Chimerix news, Director John M. Leonard sold 5,000 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $5.03, for a total transaction of $25,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider M Michelle Berrey bought 22,417 shares of the stock in a transaction on Monday, August 29th. The shares were bought at an average cost of $4.47 per share, with a total value of $100,203.99. Following the purchase, the insider now owns 281,238 shares of the company’s stock, valued at $1,257,133.86. The disclosure for this purchase can be found here. Company insiders own 10.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Chimerix by 9,017.0% in the first quarter. Royal Bank of Canada now owns 24,160 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 23,895 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Chimerix during the second quarter valued at $103,000. Raymond James & Associates raised its position in shares of Chimerix by 6.9% in the second quarter. Raymond James & Associates now owns 27,083 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 1,757 shares during the period. Highbridge Capital Management LLC bought a new position in shares of Chimerix during the second quarter valued at $112,000. Finally, Acadian Asset Management LLC bought a new position in shares of Chimerix during the second quarter valued at $159,000. 66.12% of the stock is owned by institutional investors.
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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