Analyst Edward White from H.C. Wainwright maintained a Hold rating on Chimerix (CMRX – Research Report) and keeping the price target at $8.55.
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Edward White has given his Hold rating due to a combination of factors surrounding Chimerix’s current situation and future prospects. The company is in the process of being acquired by Jazz Pharmaceuticals, with the transaction expected to close in the second quarter of 2025. This acquisition, valued at approximately $935 million, provides a clear price target of $8.55 per share, which aligns with the current market valuation, justifying a Hold rating.
Additionally, while Chimerix has promising developments such as the potential approval of dordaviprone for treating H3 K27M-mutant glioma, there are uncertainties regarding the timing and outcome of clinical trials. The interim overall survival data from the Phase 3 study is now expected in 2026, later than previously anticipated. The company’s financial performance, with reported losses and limited capital, further supports a cautious outlook. These factors, combined with potential risks in commercial, regulatory, and clinical areas, contribute to the Hold recommendation.
In another report released on March 14, JonesTrading also maintained a Hold rating on the stock with a $8.55 price target.