Brean Capital Maintains Buy On Chimerix Following Analyst Day


In a research report issued today, Brean Capital analyst Jonathan Aschoff assigned a Buy rating on Chimerix (NASDAQ:CMRX) with a price target of $33, following the company’s analyst day.

Aschoff observed, “Even though brincidofovir is being evaluated as a treatment for ADV in the AdVise trial, we believe, once approved, physicians would use the drug as a prophylaxis in high-risk HCT transplant recipients to prevent a variety of viral infections. We note that one of the initial 26 patients in the pilot portion of the AdVise trial who did not respond to brincidofovir had the T87I mutation due to prior cidofovir treatment. Such a mutation did not emerge in patients who started on brincidofovir. The pivotal portion of the AdVise trial will be a randomized duration trial, since use of a pure placebo would be unethical given the antiviral activity of brincidofovir seen against ADV. The SUPPRESS trial is evaluating brincidofovir as a prophylaxis for CMV, with full enrollment expected in early 2015 and data in 2H15. Chimerix is finalizing the Phase 2 protocol of brincidofovir for Ebola with the FDA, with the potential to use brincidofovir as a prophylaxis for high risk healthcare workers. In the meantime, the company is supporting the compassionate use of brincidofovir through its recently granted EIND. We note that brincidofovir is stable even in accelerated conditions such as high heat or high humidity, making it particularly well suited for use in tropical climates. Brincidofovir should be readily available since Chimerix has sufficient clinical batches of brincidofovir for its Phase 3 trials and drug to spare for Ebola EINDs and trials.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jonathan Aschoff has a total average return of 12.2% and a 54.9% success rate. Aschoff has a 8.6% average return when recommending CMRX, and is ranked #169 out of 3335 analysts.

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