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

Chimerix (NASDAQ:CMRX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued on Thursday,RTT News reports. They currently have a $6.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on the stock. StockNews.com upgraded shares of Chimerix from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Chimerix in a research note on Wednesday, August 14th.

Chimerix Trading Up 5.9 %

NASDAQ:CMRX opened at $0.99 on Thursday. The firm’s 50 day moving average is $0.90 and its 200 day moving average is $0.91. Chimerix has a 12 month low of $0.75 and a 12 month high of $1.30. The stock has a market capitalization of $88.74 million, a PE ratio of -1.04 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) EPS for the quarter, meeting analysts’ consensus estimates of ($0.23). The firm had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $1.26 million. During the same period in the prior year, the company earned ($0.21) EPS. Research analysts predict that Chimerix will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Chimerix by 66.8% in 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 acquiring an additional 138,098 shares during the period. Valeo Financial Advisors LLC boosted its holdings in 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 purchasing an additional 69,505 shares during the period. Marshall Wace LLP bought a new position in Chimerix in the 2nd quarter valued at $137,000. Acadian Asset Management LLC grew its position in shares of Chimerix by 15.5% during 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 purchasing an additional 291,981 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new position in shares of Chimerix in the first quarter worth $42,000. Hedge funds and other institutional investors own 45.42% of the company’s stock.

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.