Chimerix (NASDAQ:CMRX) Given “Outperform” Rating at Wedbush

Chimerix (NASDAQ:CMRX)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They presently have a $6.00 price target on the biopharmaceutical company’s stock. Wedbush’s price objective would suggest a potential upside of 117.39% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. StockNews.com raised shares of Chimerix from a “sell” rating to a “hold” rating in a report on Wednesday, August 21st. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Chimerix in a research note on Monday, November 11th.

Chimerix Stock Up 219.1 %

Shares of NASDAQ CMRX traded up $1.90 during midday trading on Tuesday, reaching $2.76. 181,458,844 shares of the stock were exchanged, compared to its average volume of 1,187,697. The firm has a 50-day simple moving average of $0.91 and a two-hundred day simple moving average of $0.90. Chimerix has a twelve month low of $0.75 and a twelve month high of $3.39. The firm has a market cap of $248.23 million, a price-to-earnings ratio of -2.94 and a beta of 1.02.

Institutional Trading of Chimerix

A number of hedge funds and other institutional investors have recently modified their holdings of CMRX. Valeo Financial Advisors LLC grew its holdings in shares of Chimerix by 566.9% in the third quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 69,505 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Chimerix by 66.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company’s stock worth $321,000 after purchasing an additional 138,098 shares during the period. Finally, Marshall Wace LLP acquired a new position in Chimerix in the 2nd quarter valued at about $137,000. 45.42% of the stock is owned by institutional investors and hedge funds.

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.