Skip to main content

Market Overview

Chimerix: Piper's 'Post-Blow-Up' Play


Piper Jaffray issued a company note on Chimerix Inc (NASDAQ: CMRX) after a disappointing clinical trial, calling the company a "post-blow-up opportunity." Piper Jaffray rates Chimerix as Overweight and increased their price target from $11 to $18.

Analysts Joshua Schimmer, Steven Breazzano and Jerry Yang wrote, "After capitulation by analysts/investors has left the stock trading with a sub-zero enterprise value (and large cash position), we see a number of clear paths to value creation. Some of the best biotech investment opportunities present themselves after seemingly "fatal" setbacks which prove anything but, and we believe this is the case with CMRX...We are lowering our discount rate from 12% to 11% to reflect our confidence in brinci's path forward in adenovirus, smallpox and other active infections."

Senior research analysts noted that Chimerix's development of brinci has many applicable uses including treating smallpox prophylaxis, adeno viral infections, and BK nephropathy. This may be a positive catalyst going forward as the company has multiple avenues of monetizing their drugs and achieving top-line growth.

Further, Piper Jaffray believes that Chimerix may achieve pricing power with brinci as a treatment for active infections and other rare respiratory diseases, which could help the company achieve margin expansion going forward.

Shares of Chimerix recently traded at $8.08, up 12.7 percent.

Latest Ratings for CMRX

Mar 2021WedbushInitiates Coverage OnOutperform
Mar 2021JefferiesInitiates Coverage OnBuy
Jan 2021HC Wainwright & Co.MaintainsBuy

View More Analyst Ratings for CMRX
View the Latest Analyst Ratings


Related Articles (CMRX)

View Comments and Join the Discussion!

Posted-In: Jerry Yang Joshua Schimmer Piper Jaffray Steven BreazzanoAnalyst Color Price Target Analyst Ratings Movers

Latest Ratings

LRCXWells FargoMaintains645.0
ASMLWells FargoMaintains750.0
DISTruist SecuritiesMaintains205.0
LRCXCredit SuisseMaintains750.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at