UPDATE: Brean Capital Raises PT On Chimerix On Broad Antiviral Coverage

In a report published Wednesday, Brean Capital analyst Jonathan Aschoff reiterated a Buy rating on Chimerix Inc CMRX, and raised the price target from $33.00 to $45.00. In the report, Brean Capital noted, “The Phase 3 SUPPRESS and AdVise trials with brincidofovir are well underway, and we believe Chimerix will file brincidofovir for approval when it has both datasets in hand. We look forward to SUPPRESS data in 2H15, as well as initiations of the pivot portion of AdVise and of a Phase 3 trial for CMV prophylaxis in SOT recipients in 1H15. With its broad spectrum activity and better safety profile compared to other antivirals, brincidofovir will ultimately be the blanket coverage provided to patients receiving HCT and SOT, in our view. We are raising our target price for Chimerix to $45 from $33.” Chimerix closed on Tuesday at $37.87.