Why Has UBS Given Chimerix (NASDAQ:CMRX) a $55 Price Target
UBS initiated its coverage for Chimerix (NASDAQ:CMRX), this morning 17 December. The firm found the stock of CMRX quite attractive and now has a Estimated Target Price of $55 with a key Buy rating.
From a total of 10 analysts covering Chimerix Inc (NASDAQ:CMRX) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 90% of the ratings are positive. The highest target price is $80 while the lowest target price is $50. The mean of all analyst targets is $61.9 with a 60.40% above today’s ($35.33) stock price. Chimerix Inc was the topic of 5 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley downgraded shares on October 5 to “Equal-Weight” rating. FBR Capital initiated CMRX stock in a recent report from August 18 with “Outperform” rating.
Approximately 229,127 shares of stock traded hands. Chimerix Inc (NASDAQ:CMRX) has declined 11.62% since May 14, 2015 and is downtrending. It has underperformed by 9.36% the S&P500.
The overall sentiment of institutions has decreased to 1.47 in Q2 2015. Its down 0.73, from 2.2 in 2015Q2. The ratio dropped, as 24 institutions have sold all the shares of Chimerix Inc that they owned while 40 funds have taken shares off the table. 27 funds have purchased shares for the first time while 67 added to their positions. These institutions now hold 50.58 million shares or 24.74% more than the 40.55 million shares they owned in 2015Q2.
The Fund New Leaf Venture Partners L.L.C. currently is holding shares equating to 11.76% of its total portfolio in Chimerix Inc representing a total of 355,007 shares. Another fund,Oracle Investment Management Inc, is holding a total of 986,421 shares equating to 7.71% of their holdings. Additionally, Opaleye Management Inc. has a 310,000 share stake in Chimerix Inc which represents 5.83% of their total portfolio. The Fund, Aisling Capital Llc, based out of New York, has also built up a stake in the stock, which represents a total of 4.85% of their total portfolio. Finally Biondo Investment Advisors Llc, a fund which is based in the state of Pennsylvania reported a total holdings of 223,374 shares.
Insider activity is a very important aspect to track on any stock. Going back to April 3, 2015, shareholders of Chimerix Inc have witnessed 0 buys, and a total of 4 insider sales equating to a net activity of approximately $1.66 million . Demski Martha J sold 2,000 shares worth approximately $75,368. Trost Timothy W. sold 28,000 shares worth approximately $1.40 million.
Chimerix, Inc. a biopharmaceutical company dedicated to discovering, developing and commercializing oral antivirals. The company has a market cap of $1.61 billion. The Company’s lipid conjugate technology has developed its lead compound, brincidofovir , which is in Phase III clinical development. It currently has negative earnings. It is clinical-stage nucleotide analog lipid-conjugate which has demonstrated potent antiviral activity and safety in convenient, orally administered dosing regimens.
According to Zacks Investment Research, “Chimerix, Inc. engages in the discovery, development and commercialization of oral antiviral therapeutics for various medical needs. The Company is developing various product candidates for the treatment of dsDNA viruses, HIV, hepatitis C, influenza and smallpox which are under different phases of clinical development. It is also screening our proprietary Chimerix Chemical Library for compounds with activity against dengue virus, malaria and tuberculosis. Chimerix, Inc. is headquartered in Durham, North Carolina.”