Chimerix (NASDAQ:CMRX) Sets New 52-Week High - Still a Buy?

Shares of Chimerix, Inc. (NASDAQ:CMRX - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $8.55 and last traded at $8.55, with a volume of 805519 shares trading hands. The stock had previously closed at $8.54.

Analyst Upgrades and Downgrades

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

Chimerix Stock Performance

The firm has a market cap of $801.09 million, a P/E ratio of -9.09 and a beta of -0.17. The firm's fifty day moving average is $7.31 and its 200 day moving average is $3.92.

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

Insider Transactions at Chimerix

In other news, CEO Michael T. Andriole sold 7,370 shares of the firm'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 of the company's stock, valued at approximately $2,755,405.56. This trade 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 can be accessed through this hyperlink. Over the last 90 days, insiders sold 20,760 shares of company stock valued at $91,175. 13.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chimerix

Institutional investors have recently made changes to their positions in the stock. Bender Robert & Associates acquired a new position in Chimerix in the 4th quarter valued at $37,000. Susquehanna Fundamental Investments LLC acquired a new position in Chimerix in the fourth quarter valued at about $59,000. Jane Street Group LLC acquired a new position in Chimerix in the fourth quarter valued at about $62,000. Diadema Partners LP bought a new stake in Chimerix during the fourth quarter worth about $101,000. Finally, Squarepoint Ops LLC acquired a new stake in Chimerix during the fourth quarter worth about $130,000. 45.42% of the stock is currently owned by 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.