Chimerix (NASDAQ:CMRX) Hits New 12-Month High - Time to Buy?

Chimerix, Inc. (NASDAQ:CMRX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $8.54 and last traded at $8.53, with a volume of 192094 shares. The stock had previously closed at $8.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CMRX shares. Wedbush reissued a "neutral" rating and set a $8.55 target price (up from $7.00) on shares of Chimerix in a research note on Wednesday, March 5th. StockNews.com started coverage on Chimerix in a research report on Tuesday, April 8th. They issued a "hold" rating for the company. HC Wainwright restated a "neutral" rating and set a $8.55 target price (down from $11.00) on shares of Chimerix in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $8.50 price target (down previously from $10.00) on shares of Chimerix in a report on Wednesday, March 5th.

Chimerix Stock Down 0.1 %

The company has a market capitalization of $799.21 million, a price-to-earnings ratio of -9.06 and a beta of -0.17. The stock has a fifty day moving average price of $6.95 and a two-hundred day moving average price of $3.73.

Chimerix (NASDAQ:CMRX - Get Free Report) last released its earnings results on Friday, March 21st. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.01. The firm had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.31 million. As a group, research analysts forecast that Chimerix, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Chimerix

In other news, CEO Michael T. Andriole sold 7,370 shares of Chimerix stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $4.52, for a total value of $33,312.40. Following the completion of the sale, the chief executive officer now owns 609,603 shares of the company's stock, valued at $2,755,405.56. The trade was 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 available at the SEC website. In the last three months, insiders sold 20,760 shares of company stock worth $91,175. Insiders own 13.10% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Stoneridge Investment Partners LLC raised its stake in Chimerix by 22.5% during the fourth quarter. Stoneridge Investment Partners LLC now owns 44,305 shares of the biopharmaceutical company's stock worth $154,000 after purchasing an additional 8,134 shares during the period. Bender Robert & Associates acquired a new stake in shares of Chimerix in the fourth quarter worth $37,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Chimerix during the 4th quarter valued at $59,000. Jane Street Group LLC purchased a new stake in Chimerix during the 4th quarter worth $62,000. Finally, Diadema Partners LP purchased a new position in Chimerix in the fourth quarter valued at about $101,000. 45.42% of the stock is currently owned by hedge funds and other institutional investors.

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.