H.C. Wainwright analyst Edward White reiterated a Buy rating on Chimerix (NASDAQ: CMRX) today and set a price target of $10. The company’s shares closed yesterday at $3.61, close to its 52-week low of $3.53.
White noted:
“We base our $10 price target on probability-adjusted revenue forecasts for brincidofovir in AdV, smallpox and multi- viral prevention. We use the net present value of our revenue forecast through 2026, apply a 15% POS for brincidofovir in AdV and other viruses, a 35% POS for brincidofovir in smallpox, a 4x price/sales multiple, value the early stage pipeline at $1.56/ share and 2Q18 fully diluted net cash of $4.08/share to arrive at our $10 price target. Our P/S multiple of 4x is in line with Chimerix’s peers that range between 2-5x.”
According to TipRanks.com, White is a 5-star analyst with an average return of 17.2% and a 48.1% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chimerix with a $8 average price target.
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Based on Chimerix’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $18.61 million. In comparison, last year the company had a GAAP net loss of $17.31 million.
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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.
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