StockNews.com Initiates Coverage on Chimerix (NASDAQ:CMRX)

StockNews.com assumed coverage on shares of Chimerix (NASDAQ:CMRX) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the biopharmaceutical company’s stock.

Several other brokerages have also recently commented on CMRX. Jefferies Financial Group reiterated a “hold” rating and set a $8.50 target price (down previously from $10.00) on shares of Chimerix in a research report on Wednesday, March 5th. HC Wainwright reissued a “neutral” rating and issued a $8.55 target price (down previously from $11.00) on shares of Chimerix in a research note on Wednesday, March 5th. Finally, Wedbush restated a “neutral” rating and set a $8.55 target price (up from $7.00) on shares of Chimerix in a research report on Wednesday, March 5th.

Chimerix Stock Up 0.1 %

Shares of CMRX stock opened at $8.55 on Wednesday. Chimerix has a 12 month low of $0.75 and a 12 month high of $8.55. The firm has a market cap of $802.02 million, a price-to-earnings ratio of -9.10 and a beta of -0.17. The stock has a 50-day moving average price of $7.13 and a 200 day moving average price of $3.84.

Chimerix (NASDAQ:CMRX) last issued its quarterly earnings results on Friday, March 21st. The biopharmaceutical company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.01. The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.31 million. Sell-side analysts predict that Chimerix will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Chimerix

In other Chimerix news, CEO Michael T. Andriole sold 7,370 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $4.52, for a total value of $33,312.40. Following the completion of the transaction, the chief executive officer now directly owns 609,603 shares of the company’s stock, valued at approximately $2,755,405.56. The trade was a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 20,760 shares of company stock worth $91,175 in the last quarter. Corporate insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Chimerix

Institutional investors and hedge funds have recently modified their holdings of the business. Bender Robert & Associates acquired a new stake in Chimerix during the 4th quarter worth approximately $37,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Chimerix during the fourth quarter worth $59,000. Jane Street Group LLC acquired a new stake in shares of Chimerix during the fourth quarter worth $62,000. Diadema Partners LP acquired a new stake in shares of Chimerix during the fourth quarter worth $101,000. Finally, Squarepoint Ops LLC bought a new stake in Chimerix in the 4th quarter valued at $130,000. 45.42% of the stock is currently owned by institutional investors and hedge funds.

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.