UPDATE: Jefferies Starts Chimerix (CMRX) at Buy
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Jefferies analyst Maury Raycroft initiates coverage on Chimerix (NASDAQ: CMRX) with a Buy rating and a price target of $21.00.
The analyst commented, "CMRX's pipeline is diversified w/ 3 legit shots value creation. CMRX's targeted-onc drugONC201 is currently in a pivotal w/ more data expected 2H21 -- could be on mkt for defined tumor type (small #pts but high unmet need) by 2023 (est ~$400M/yr). Also, antiviral brincidofovir for smallpox contract (we est ~$440M/5 yrs) Apr/May & PDUFA7/7/21. CMRX's DSTAT (ph.III in AML) is a large mkt, which we view as under appreciated for CMRX w/ long-term potential."
Shares of Chimerix closed at $8.59 yesterday.
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Related EntitiesJefferies & Co, PDUFA
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