TD Cowen analyst Joseph Thome maintained a Buy rating on Chimerix (CMRX – Research Report) today and set a price target of $12.00.
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Joseph Thome has given his Buy rating due to a combination of factors surrounding Chimerix’s recent developments. The company announced that its NDA submission for accelerated approval of dordaviprone, aimed at treating recurrent H3 K27M-mutant glioma, has been accepted with priority review by the FDA. This is a significant milestone as no advisory committee meeting is planned, indicating confidence in the submission process.
Thome’s optimism is further supported by the strong clinical data demonstrating dordaviprone’s efficacy, particularly the high overall response rate and duration of response compared to standard treatments. The drug’s ability to reverse a key hallmark of the disease adds to its potential impact in addressing the unmet medical needs of patients. The upcoming PDUFA date in August 2025, coupled with the positive outlook from consultants on its efficacy and tolerability, reinforce Thome’s positive assessment of Chimerix’s stock potential.
In another report released on February 5, JonesTrading also reiterated a Buy rating on the stock with a $7.00 price target.