Zacks Investment Research Lowers Chimerix Inc. (CMRX) to Hold
Chimerix Inc. (NASDAQ:CMRX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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 brokerages also recently commented on CMRX. Piper Jaffray Cos. set a $12.00 target price on shares of Chimerix and gave the company a “buy” rating in a research note on Thursday, August 18th. FBR & Co lowered their target price 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. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $7.00 target price on shares of Chimerix in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.38.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/zacks-investment-research-lowers-chimerix-inc-cmrx-to-hold.html
Chimerix (NASDAQ:CMRX) traded up 4.99% on Tuesday, hitting $4.84. 450,767 shares of the stock were exchanged. The stock’s market capitalization is $223.68 million. Chimerix has a one year low of $3.50 and a one year high of $43.37. The company has a 50 day moving average of $5.16 and a 200 day moving average of $4.78.
Chimerix (NASDAQ:CMRX) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.39) EPS for the quarter, beating the Thomson Reuters’ 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 firm earned $1.80 million during the quarter, compared to the consensus estimate of $1.98 million. On average, equities research analysts forecast that Chimerix will post ($1.78) earnings per share for the current fiscal year.
In other Chimerix news, insider M Michelle Berrey bought 22,417 shares of Chimerix stock in a transaction that occurred on Monday, August 29th. The stock was acquired at an average price of $4.47 per share, for a total transaction of $100,203.99. Following the completion of the acquisition, the insider now owns 281,238 shares of the company’s stock, valued at approximately $1,257,133.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John M. Leonard sold 5,000 shares of the stock in a transaction on 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. Insiders own 10.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL acquired a new position in shares of Chimerix during the second quarter valued at approximately $103,000. Raymond James & Associates boosted its position in shares of Chimerix by 6.9% in the second quarter. Raymond James & Associates now owns 27,083 shares of the biopharmaceutical company’s stock valued at $106,000 after buying an additional 1,757 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Chimerix during the second quarter valued at approximately $112,000. Royal Bank of Canada boosted its position in shares of Chimerix by 9,017.0% in the first quarter. Royal Bank of Canada now owns 24,160 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 23,895 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Chimerix during the second quarter valued at approximately $159,000. Institutional investors and hedge funds own 66.13% of the company’s stock.
Chimerix Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chimerix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chimerix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.