Wedbush Weighs in on Chimerix, Inc.’s Q2 2024 Earnings (NASDAQ:CMRX)

Chimerix, Inc. (NASDAQ:CMRX) – Equities researchers at Wedbush decreased their Q2 2024 earnings per share estimates for Chimerix in a report released on Wednesday, May 1st. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will earn ($0.23) per share for the quarter, down from their prior forecast of ($0.21). Wedbush has a “Outperform” rating and a $6.00 price objective on the stock. The consensus estimate for Chimerix’s current full-year earnings is ($0.81) per share. Wedbush also issued estimates for Chimerix’s Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($0.94) EPS, FY2025 earnings at ($0.94) EPS, FY2026 earnings at ($0.93) EPS and FY2027 earnings at ($0.33) EPS.

Other research analysts have also issued reports about the company. StockNews.com lowered Chimerix from a “hold” rating to a “sell” rating in a research note on Friday. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Chimerix in a research note on Friday, March 1st.

Chimerix Stock Up 4.9 %

Shares of CMRX stock opened at $1.00 on Monday. Chimerix has a 12 month low of $0.88 and a 12 month high of $1.57. The firm has a market cap of $89.63 million, a PE ratio of -1.08 and a beta of 1.13. The stock has a 50 day moving average of $1.04 and a 200-day moving average of $1.00.

Chimerix (NASDAQ:CMRX) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). Chimerix had a negative return on equity of 41.32% and a negative net margin of 25,337.96%. During the same period last year, the business earned ($0.24) EPS.

Institutional Trading of Chimerix

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Chimerix by 190.0% during the third quarter. Bank of New York Mellon Corp now owns 591,697 shares of the biopharmaceutical company’s stock worth $568,000 after purchasing an additional 387,638 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Chimerix by 167.3% during the third quarter. Assenagon Asset Management S.A. now owns 426,672 shares of the biopharmaceutical company’s stock worth $410,000 after purchasing an additional 267,044 shares during the last quarter. Pale Fire Capital SE bought a new stake in shares of Chimerix during the third quarter worth $95,000. RA Capital Management L.P. bought a new stake in shares of Chimerix during the third quarter worth $6,240,000. Finally, Vance Wealth Inc. bought a new stake in shares of Chimerix during the fourth quarter worth $46,000. 45.42% of the stock is currently owned by 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.