Brean Capital Maintains Buy On Chimerix Ahead Of Early Phase 3 Data
In a research report issued today, Brean Capital analyst Jonathan Aschoff maintained a Buy rating on Chimerix (NASDAQ:CMRX) with a price target of $33.00. This report was written ahead of early phase 3 data about Brincidofovir.
Aschoff noted, “Our BUY rating is based on a TP of $33. This price target is derived from an NPV model, which we believe is the most appropriate method with which to value CMRX shares. We model cash flows out to 2025; this assumes the primary driver of cash flow to be US sales of brincidofovir, which we believe will become generic in 2031, at the end of patent exclusivity. Based on these assumptions and a weighted average cost of capital of 15%, our NPV valuation indicates a $33 fair value.”
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 20.5% and a 61.7% success rate. Aschoff is ranked #136 out of 3274 analysts.