Chimerix Inc. (CMRX) Downgraded by Zacks Investment Research to Hold
Chimerix Inc. (NASDAQ:CMRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
Several other equities analysts also recently issued reports on the stock. 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. JPMorgan Chase & Co. restated a “hold” rating and issued a $7.00 price objective on shares of Chimerix in a research note on Tuesday, August 9th. Finally, FBR & Co decreased their price objective on shares of Chimerix from $9.00 to $8.00 and set a “mkt perform” rating for the company in a research note on Tuesday, August 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Chimerix has a consensus rating of “Hold” and an average price target of $12.38.
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Shares of Chimerix (NASDAQ:CMRX) traded up 4.99% during trading on Tuesday, hitting $4.84. The company had a trading volume of 450,767 shares. Chimerix has a 52-week low of $3.50 and a 52-week high of $43.37. The firm’s market capitalization is $223.68 million. The stock’s 50-day moving average is $5.16 and its 200 day moving average is $4.78.
Chimerix (NASDAQ:CMRX) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.12. Chimerix had a negative net margin of 1,356.50% and a negative return on equity of 34.75%. The company earned $1.80 million during the quarter, compared to the consensus estimate of $1.98 million. Equities research analysts predict that Chimerix will post ($1.78) earnings per share for the current fiscal year.
In other news, insider M Michelle Berrey purchased 22,417 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was purchased at an average cost of $4.47 per share, with a total value of $100,203.99. Following the completion of the acquisition, the insider now directly owns 281,238 shares of the company’s stock, valued at approximately $1,257,133.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John M. Leonard sold 5,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $5.03, for a total transaction of $25,150.00. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CMRX. BlackRock Investment Management LLC boosted its position in Chimerix by 19.1% in the second quarter. BlackRock Investment Management LLC now owns 185,972 shares of the biopharmaceutical company’s stock valued at $731,000 after buying an additional 29,851 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Chimerix during the second quarter worth about $103,000. Dimensional Fund Advisors LP boosted its position in shares of Chimerix by 103.2% in the second quarter. Dimensional Fund Advisors LP now owns 153,408 shares of the biopharmaceutical company’s stock worth $603,000 after buying an additional 77,900 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Chimerix during the second quarter worth about $322,000. Finally, GSA Capital Partners LLP bought a new position in shares of Chimerix during the second quarter worth about $349,000. 66.13% of the stock is owned by hedge funds and other 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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