H.C. Wainwright analyst Edward White maintained a Buy rating on Chimerix (CMRX) today and set a price target of $10. The company’s shares closed yesterday at $3.49, close to its 52-week low of $3.11.
White noted:
“We base our $10 price target on probability-adjusted revenue forecasts for brincidofovir in AdV, smallpox and multiviral 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 $1.48/share and fully diluted net cash of $3.82/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 14.9% and a 46.6% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
Currently, the analyst consensus on Chimerix is a Moderate Buy with an average price target of $8.
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The company has a one-year high of $5.94 and a one-year low of $3.11. Currently, Chimerix has an average volume of 203.2K.
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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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