Chimerix (NASDAQ:CMRX) Hits New 52-Week High - Time to Buy?

Chimerix, Inc. (NASDAQ:CMRX - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $8.48 and last traded at $8.47, with a volume of 1548851 shares. The stock had previously closed at $8.46.

Analysts Set New Price Targets

Several research analysts recently issued reports on CMRX shares. Wedbush reissued a "neutral" rating and issued a $8.55 price target (up previously from $7.00) on shares of Chimerix in a research report on Wednesday, March 5th. StockNews.com started coverage on shares of Chimerix in a research report on Saturday, March 15th. They issued a "hold" rating for the company. HC Wainwright reissued a "neutral" rating and issued a $8.55 price target (down previously from $11.00) on shares of Chimerix in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $8.50 price target (down from $10.00) on shares of Chimerix in a report on Wednesday, March 5th.

Chimerix Stock Up 0.4 %

The company has a market cap of $764.46 million, a P/E ratio of -9.04 and a beta of 0.32. The firm has a fifty day moving average price of $5.24 and a 200 day moving average price of $2.77.

Chimerix (NASDAQ:CMRX - Get Free Report) last issued its quarterly earnings data on Friday, March 21st. The biopharmaceutical company reported ($0.25) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.01. The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.31 million. On average, sell-side analysts anticipate that Chimerix, Inc. will post -0.99 earnings per share for the current year.

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Insider Transactions at Chimerix

In other news, CEO Michael T. Andriole sold 7,370 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $4.52, for a total transaction of $33,312.40. Following the transaction, the chief executive officer now directly owns 609,603 shares in the company, valued at approximately $2,755,405.56. This represents a 1.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 20,760 shares of company stock worth $91,175. Corporate insiders own 13.10% of the company's stock.

Hedge Funds Weigh In On Chimerix

A number of large investors have recently modified their holdings of the stock. Deerfield Management Company L.P. Series C acquired a new position in shares of Chimerix during the fourth quarter worth approximately $13,124,000. Rosalind Advisors Inc. bought a new stake in shares of Chimerix during the fourth quarter worth approximately $10,614,000. Millennium Management LLC raised its stake in shares of Chimerix by 6.8% during the fourth quarter. Millennium Management LLC now owns 2,557,530 shares of the biopharmaceutical company's stock worth $8,900,000 after buying an additional 161,795 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Chimerix by 1,318.5% during the fourth quarter. Marshall Wace LLP now owns 2,213,940 shares of the biopharmaceutical company's stock worth $7,705,000 after buying an additional 2,057,864 shares during the last quarter. Finally, Boxer Capital Management LLC bought a new stake in shares of Chimerix during the fourth quarter worth approximately $7,169,000. 45.42% of the stock is currently owned by institutional investors and hedge funds.

Chimerix Company Profile

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.