Brokers Issue Forecasts for Chimerix, Inc.’s Q2 2024 Earnings (NASDAQ:CMRX)

Chimerix, Inc. (NASDAQ:CMRX) – Wedbush reduced their Q2 2024 earnings per share estimates for shares of Chimerix in a report released on Wednesday, May 1st. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will earn ($0.23) per share for the quarter, down from their previous estimate of ($0.21). Wedbush currently has a “Outperform” rating and a $6.00 target price on the stock. The consensus estimate for Chimerix’s current full-year earnings is ($0.81) per share. Wedbush also issued estimates for Chimerix’s Q3 2024 earnings at ($0.23) EPS, Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($0.94) EPS, FY2025 earnings at ($0.94) EPS, FY2026 earnings at ($0.93) EPS and FY2027 earnings at ($0.33) EPS.

Other research analysts also recently issued reports about the stock. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Chimerix in a research report on Friday, March 1st. StockNews.com cut shares of Chimerix from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

Chimerix Price Performance

Shares of CMRX opened at $0.99 on Monday. The stock has a market capitalization of $88.73 million, a PE ratio of -1.06 and a beta of 1.13. The business’s fifty day moving average price is $1.03 and its 200 day moving average price is $1.00. Chimerix has a 12-month low of $0.88 and a 12-month high of $1.57.

Chimerix (NASDAQ:CMRX) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). Chimerix had a negative return on equity of 41.32% and a negative net margin of 25,337.96%. During the same period in the prior year, the company posted ($0.24) EPS.

Hedge Funds Weigh In On Chimerix

Several institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Chimerix by 17.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 499,391 shares of the biopharmaceutical company’s stock valued at $481,000 after purchasing an additional 72,719 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Chimerix by 190.0% in the third quarter. Bank of New York Mellon Corp now owns 591,697 shares of the biopharmaceutical company’s stock valued at $568,000 after purchasing an additional 387,638 shares during the period. Vance Wealth Inc. bought a new stake in shares of Chimerix during the fourth quarter valued at approximately $46,000. Pale Fire Capital SE acquired a new position in shares of Chimerix during the third quarter worth approximately $95,000. Finally, RA Capital Management L.P. bought a new position in Chimerix in the 3rd quarter worth approximately $6,240,000. Institutional investors own 45.42% of the company’s stock.

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.