Zacks Investment Research upgraded shares of Chimerix Inc. (NASDAQ:CMRX) from a hold rating to a buy rating in a research report sent to investors on Tuesday. They currently have $6.00 price target on the biopharmaceutical company’s stock.
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. “
CMRX has been the subject of several other research reports. FBR & Co reaffirmed a hold rating on shares of Chimerix in a research note on Sunday, July 17th. JPMorgan Chase & Co. reissued a hold rating and issued a $7.00 price objective on shares of Chimerix in a research note on Tuesday, August 9th. Finally, Piper Jaffray Cos. set a $12.00 price objective on shares of Chimerix and gave the company a buy rating in a research note on Thursday, August 18th. 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 stock. Chimerix currently has an average rating of Hold and a consensus price target of $12.38.
Chimerix (NASDAQ:CMRX) remained flat at $5.25 during mid-day trading on Tuesday. The company had a trading volume of 76,557 shares. The stock’s market capitalization is $242.62 million. The company’s 50 day moving average is $5.11 and its 200 day moving average is $4.79. Chimerix has a 52 week low of $3.50 and a 52 week high of $43.37.
Chimerix (NASDAQ:CMRX) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.12. The company earned $1.80 million during the quarter, compared to analyst estimates of $1.98 million. Chimerix had a negative net margin of 1,356.50% and a negative return on equity of 34.75%. On average, equities research analysts expect that Chimerix will post ($1.78) EPS for the current fiscal year.
In other Chimerix news, Director John M. Leonard sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $5.03, for a total transaction of $25,150.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider M Michelle Berrey acquired 22,417 shares of the business’s stock in a transaction on Monday, August 29th. The shares were bought 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 approximately $1,257,133.86. The disclosure for this purchase can be found here. Company insiders own 10.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes 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 worth $123,000 after buying an additional 23,895 shares during the period. Virginia Retirement Systems ET AL acquired a new position in shares of Chimerix during the second quarter worth about $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 worth $106,000 after buying an additional 1,757 shares during the period. Highbridge Capital Management LLC acquired a new position in shares of Chimerix during the second quarter worth about $112,000. Finally, Acadian Asset Management LLC acquired a new position in shares of Chimerix during the second quarter worth about $159,000. 66.12% of the stock is currently owned by institutional investors.
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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