In a report published Monday, Morgan Stanley analyst David Friedman initiated coverage on Chimerix CMRX with an Overweight rating and $26.00 price target.
In the report, Friedman noted, “Chimerix is developing CMX001 for the prevention or treatment of a broad range of dsDNA viruses across various immunocompromised pt settings.Most data to date, which we find compelling, is in the first target indication - CMV prevention/treatment in HSCT. However, we expect a broader reach for this drug over time. Importantly, we view this drug in the lead indication as having the properties of successful drugs: a) best in disease potential, b) makes an important impact on high acuity pts, and c) fulfills a clear unmet need.”
Chimerix closed on Friday at $20.95.
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