Chimerix’s (CMRX) Outperform Rating Reiterated at Wedbush

Chimerix (NASDAQ:CMRX)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research report issued to clients and investors on Tuesday,RTT News reports. They presently have a $6.00 target price on the biopharmaceutical company’s stock. Wedbush’s price target suggests a potential upside of 117.39% from the stock’s current price.

CMRX has been the topic of a number of other research reports. StockNews.com raised Chimerix from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Chimerix in a report on Monday, November 11th.

Chimerix Stock Performance

CMRX stock traded up $1.90 during midday trading on Tuesday, reaching $2.76. 181,458,844 shares of the company traded hands, compared to its average volume of 1,187,697. The firm has a market capitalization of $248.23 million, a price-to-earnings ratio of -2.94 and a beta of 1.02. Chimerix has a 52-week low of $0.75 and a 52-week high of $3.39. The business has a 50 day moving average of $0.91 and a 200-day moving average of $0.90.

Institutional Trading of Chimerix

A number of institutional investors have recently modified their holdings of CMRX. Marshall Wace LLP acquired a new position in shares of Chimerix during the second quarter valued at about $137,000. Valeo Financial Advisors LLC lifted its position in Chimerix by 566.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 69,505 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Chimerix by 66.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company’s stock valued at $321,000 after purchasing an additional 138,098 shares during the last quarter. 45.42% of the stock is currently owned by institutional investors.

Chimerix Company Profile

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.