Chimerix (NASDAQ:CMRX) Earns Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Chimerix (NASDAQ:CMRX) in a report released on Tuesday,RTT News reports. The brokerage currently has a $6.00 price objective on the biopharmaceutical company’s stock.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of Chimerix in a research note on Monday, November 11th. StockNews.com upgraded shares of Chimerix from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st.

Chimerix Price Performance

CMRX stock opened at $2.76 on Tuesday. The stock has a market capitalization of $248.23 million, a P/E ratio of -2.94 and a beta of 1.02. Chimerix has a 1-year low of $0.75 and a 1-year high of $3.39. The business has a fifty day moving average price of $0.94 and a 200-day moving average price of $0.91.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CMRX. Valeo Financial Advisors LLC lifted its stake 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 worth $76,000 after purchasing an additional 69,505 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Chimerix by 66.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company’s stock valued at $321,000 after buying an additional 138,098 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Chimerix in the second quarter worth approximately $137,000. 45.42% of the stock is 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.