.jpg "Chimerix (NASDAQ: CMRX)")
In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on Chimerix (NASDAQ: CMRX), with a price target of $10. The company’s shares closed yesterday at $4.82.
White noted:
“We think this announcement bodes well for the development and potential approval for brincidofovir for smallpox. As a reminder, oral brincidofovir is being developed for smallpox under the FDA’s Animal Rule, which allows for testing of investigational drugs in animal models to support effectiveness in diseases that are not ethical or feasible to study in humans. Results from a study of brincidofovir in a rabbit model of smallpox showed improved survival, even when treatment was initiated during the course of disease. In the pivotal Phase 3 study for the treatment of smallpox conducted in the rabbitpox model, brincidofovir achieved statistically significant (p<0.05) reductions in mortality in brincidofovir treated animals in comparison to placebo group."
According to TipRanks.com, White is a 5-star analyst with an average return of 26.1% and a 55.9% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Synthetic Biologics Inc, and Karyopharm Therapeutics.
Chimerix has an analyst consensus of Moderate Buy, with a price target consensus of $8.
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Based on Chimerix’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $19.83 million. In comparison, last year the company had a GAAP net loss of $17.75 million.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. Last month, Michelle Berrey, the President & CEO of CMRX bought 11,250 shares for a total of $47,925.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
