In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Chimerix (CMRX), with a price target of $7. The company’s shares opened today at $2.24, close to its 52-week low of $1.88.
White commented:
“We are revising our price target to $7, down from $10, due to removing CMX521 in norovirus from the early stage pipeline as development has effectively been paused, and we have extended our timelines for the AdAPT data readout and potential launch for the AdV indication. We continue to assign value to the early stage pipeline, which includes possible BCV indications outside of AdV and smallpox, such as HHV6 and BKV. We base our $7 price target on probability-adjusted revenue forecasts for brincidofovir in AdV, smallpox and multiviral prevention.”
According to TipRanks.com, White is a 5-star analyst with an average return of 13.7% and a 47.0% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Chimerix has an analyst consensus of Moderate Buy, with a price target consensus of $7.
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The company has a one-year high of $5.94 and a one-year low of $1.88. Currently, Chimerix has an average volume of 387.5K.
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Chimerix, Inc. is a biopharmaceutical company, which engages in the research, development, and commercialization of pharmaceutical products. Its portfolio includes Brincidofovir for the treatment of adenovirus, cytomegalovirus, and smallpox.
