Maxim Group lifts Chimerix Inc. [CMRX] price estimate. Who else is bullish?

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Chimerix Inc. [NASDAQ: CMRX] stock went on a downward path that fall over -4.93% on Thursday, amounting to a one-week price decrease of less than -10.92%. The company report on June 24, 2022 that Chimerix Announces TEMBEXA Procurement Agreement for Approximately $25.3 Million with Public Health Agency of Canada.


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Chimerix (NASDAQ:CMRX), a biopharmaceutical company whose mission it is to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases, today announced Public Health Agency of Canada awarded Chimerix a contract up to $25.3 million agreement to procure TEMBEXA® (brincidofovir). Execution of this contract will be the responsibility of Chimerix, as it is expected to substantially occur prior to the close of the pending transaction with Emergent BioSolutions, Inc. (Emergent).

“This second international procurement contract highlights TEMBEXA’s important role as a medical countermeasure and the need to have these types of medicines in strategic stockpiles for all age groups,” said Mike Sherman, Chief Executive Officer of Chimerix. “With this new procurement, we are still on track to deliver the expected obligations associated with a potential U.S. Biomedical Advanced Research and Development Authority (BARDA) contract and initial delivery into the U.S. Strategic National Stockpile later this year.”.

Over the last 12 months, CMRX stock dropped by -70.80%. The one-year Chimerix Inc. stock forecast points to a potential upside of 73.5. The average equity rating for CMRX stock is currently 1.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $198.73 million, with 87.09 million shares outstanding and 83.30 million shares in the current float. Compared to the average trading volume of 4.27M shares, CMRX stock reached a trading volume of 2820177 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Chimerix Inc. [CMRX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CMRX shares is $8.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CMRX stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Maxim Group have made an estimate for Chimerix Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 29, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $10 to $18. The new note on the price target was released on April 23, 2021, representing the official price target for Chimerix Inc. stock. Previously, the target price had yet another raise to $21, while Wedbush analysts kept a Outperform rating on CMRX stock.

The Average True Range (ATR) for Chimerix Inc. is set at 0.19, with the Price to Sales ratio for CMRX stock in the period of the last 12 months amounting to 331.21. The Price to Book ratio for the last quarter was 3.85, with the Price to Cash per share for the same quarter was set at 0.57.

CMRX Stock Performance Analysis:

Chimerix Inc. [CMRX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.92. With this latest performance, CMRX shares gained by 47.22% in over the last four-week period, additionally sinking by -66.61% over the last 6 months – not to mention a drop of -70.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CMRX stock in for the last two-week period is set at 49.54, with the RSI for the last a single of trading hit 51.83, and the three-weeks RSI is set at 46.17 for Chimerix Inc. [CMRX]. The present Moving Average for the last 50 days of trading for this stock 2.35, while it was recorded at 2.14 for the last single week of trading, and 4.84 for the last 200 days.

Insight into Chimerix Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Chimerix Inc. [CMRX] shares currently have an operating margin of -4573.52 and a Gross Margin at +76.35. Chimerix Inc.’s Net Margin is presently recorded at -8753.71.

Return on Equity for this stock declined to -244.64, with Return on Assets sitting at -187.02.

Chimerix Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.90 and a Current Ratio set at 4.10.

Chimerix Inc. [CMRX] Insider Position Details

There are presently around $117 million, or 67.30% of CMRX stock, in the hands of institutional investors. The top three institutional holders of CMRX stocks are: OPALEYE MANAGEMENT INC. with ownership of 5,903,450, which is approximately 5.797% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 5,349,042 shares of the stock with an approximate value of $11.93 million in CMRX stocks shares; and RUBRIC CAPITAL MANAGEMENT LP, currently with $10.7 million in CMRX stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Chimerix Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 53 institutional holders increased their position in Chimerix Inc. [NASDAQ:CMRX] by around 5,028,840 shares. Additionally, 60 investors decreased positions by around 3,637,365 shares, while 25 investors held positions by with 43,804,398 shares. The mentioned changes placed institutional holdings at 52,470,603 shares, according to the latest SEC report filing. CMRX stock had 18 new institutional investments in for a total of 2,709,246 shares, while 14 institutional investors sold positions of 785,502 shares during the same period.

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