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

Chimerix (NASDAQ:CMRX)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $6.00 target price on the biopharmaceutical company’s stock. Wedbush’s target price points to a potential upside of 101.34% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. StockNews.com raised shares of Chimerix from a “sell” rating to a “hold” rating in a research report on Wednesday, August 21st. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Chimerix in a research note on Monday, November 11th.

Chimerix Stock Performance

Shares of CMRX opened at $2.98 on Tuesday. The firm has a market capitalization of $268.02 million, a P/E ratio of -3.17 and a beta of 1.02. Chimerix has a 52 week low of $0.75 and a 52 week high of $3.39. The stock has a 50 day moving average price of $0.99 and a two-hundred day moving average price of $0.93.

Institutional Trading of Chimerix

Several hedge funds have recently added to or reduced their stakes in CMRX. Valeo Financial Advisors LLC increased its stake in shares of 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 purchasing an additional 69,505 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 worth $321,000 after buying an additional 138,098 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Chimerix in the second quarter valued at $137,000. 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.