Wedbush Reiterates “Outperform” Rating for Chimerix (NASDAQ:CMRX)

Wedbush reiterated their outperform rating on shares of Chimerix (NASDAQ:CMRX) in a research report released on Monday, Marketbeat.com reports. They currently have a $6.00 price target on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on CMRX. StockNews.com upgraded shares of Chimerix from a “sell” rating to a “hold” rating in a research note on Wednesday, August 21st. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of Chimerix in a research report on Monday, November 11th.

Chimerix Price Performance

Shares of CMRX stock opened at $0.91 on Monday. Chimerix has a one year low of $0.75 and a one year high of $1.30. The company has a market cap of $82.18 million, a P/E ratio of -0.97 and a beta of 1.13. The firm has a 50-day moving average of $0.91 and a 200-day moving average of $0.91.

Hedge Funds Weigh In On Chimerix

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC grew its holdings in Chimerix by 15.5% in the first quarter. Acadian Asset Management LLC now owns 2,174,813 shares of the biopharmaceutical company’s stock worth $2,304,000 after purchasing an additional 291,981 shares during the period. Marshall Wace LLP purchased a new position in shares of Chimerix in the 2nd quarter worth about $137,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Chimerix by 66.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 344,712 shares of the biopharmaceutical company’s stock valued at $321,000 after acquiring an additional 138,098 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its position in Chimerix by 566.9% in the 3rd quarter. Valeo Financial Advisors LLC now owns 81,766 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 69,505 shares during the period. 45.42% of the stock is owned by hedge funds and other institutional investors.

About Chimerix

Chimerix, Inc, a biopharmaceutical company, develops medicines to improve and extend the lives of patients facing deadly diseases. Its pipeline products include ONC201 a program that is in Phase 3 clinical trial for treating patients with H3 K27M-mutant diffuse glioma, as well as in Phase 2 clinical trial for the treatment of rare neuroendocrine tumors; and ONC206, an imipridone, Dopamine Receptor D2 (DRD2) antagonist, and caseinolytic protease P (ClpP) agonist, which is in Phase 1 clinical trial for adult and pediatric patients with primary central nervous system tumors.