Wedbush Reaffirms “Outperform” Rating for Chimerix (NASDAQ:CMRX)

Wedbush restated their outperform rating on shares of Chimerix (NASDAQ:CMRX) in a report issued on Thursday morning,RTT News reports. The firm currently has a $6.00 target price on the biopharmaceutical company’s stock.

Several other research analysts also recently commented on CMRX. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Chimerix in a report on Wednesday, August 14th. StockNews.com upgraded Chimerix from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st.

Chimerix Stock Performance

Shares of NASDAQ CMRX opened at $0.99 on Thursday. The business’s 50 day moving average price is $0.90 and its 200-day moving average price is $0.91. Chimerix has a fifty-two week low of $0.75 and a fifty-two week high of $1.30. The company has a market cap of $88.74 million, a price-to-earnings ratio of -1.05 and a beta of 1.13.

Chimerix (NASDAQ:CMRX) last issued its quarterly earnings results on Tuesday, August 13th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, hitting the consensus estimate of ($0.23). The business had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $1.26 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Sell-side analysts predict that Chimerix will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Koshinski Asset Management Inc. purchased a new position in shares of Chimerix in the 1st quarter valued at $42,000. Valeo Financial Advisors LLC increased its holdings in shares of Chimerix by 566.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company’s stock valued at $76,000 after acquiring an additional 69,505 shares during the period. Marshall Wace LLP purchased a new position in shares of Chimerix in the 2nd quarter valued at $137,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Chimerix by 66.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company’s stock valued at $321,000 after acquiring an additional 138,098 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Chimerix by 15.5% in the 1st quarter. Acadian Asset Management LLC now owns 2,174,813 shares of the biopharmaceutical company’s stock valued at $2,304,000 after acquiring an additional 291,981 shares during the period. 45.42% of the stock is currently owned by hedge funds and other institutional investors.

About Chimerix

Chimerix, Inc, a biopharmaceutical company, develops medicines to improve and extend the lives of patients facing deadly diseases. Its pipeline products include ONC201 a program that is in Phase 3 clinical trial for treating patients with H3 K27M-mutant diffuse glioma, as well as in Phase 2 clinical trial for the treatment of rare neuroendocrine tumors; and ONC206, an imipridone, Dopamine Receptor D2 (DRD2) antagonist, and caseinolytic protease P (ClpP) agonist, which is in Phase 1 clinical trial for adult and pediatric patients with primary central nervous system tumors.