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Monday, August 15, 2022

Should Stakeholders Consider Chimerix, Inc. (CMRX) Stock for Investment?

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Chimerix, Inc. (CMRX) is a specialty biotherapeutics company focusing on manufacturing medicines that improve and extend the patients’ lives facing deadly diseases including AML and recurrent H3 K27M-mutant glioma. Its industrial ranking is 296 out of a total of 510, while the international biotechnology market is forecasted to grow at a 9.4% CAGR approximately from 2021 to 2027.

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CMRX: Recent Developments

In March, CMRX reported that its Chief Executive Officer Mike Sherman and Chief Business Officer participated in two of the most important conferences including the fireside chat at the Cowen and Company 42nd Annual Health Care Conference, and the Maxim Group 2022 Virtual Growth Conference held on March 7 and March 28-30 respectively.

CMRX: Earnings

The company recorded deceleration of 63% in its yearly revenue in 2021 as compared to 2020. The company is showing a declining trend in its revenue over the last two years owing to the pandemic. Also, its diluted earnings per share observed a decline of 191% YoY and stood at -$2.04 per share. For the fiscal year 2022, the company provided a financial outlook and the revenue and EPS estimates are $86.4 million and -$0.17 respectively.

Source: Chartmill

Comparison with Peers

The competitors of CMRX include MGNX, IDYA, OTLK, VAXX, FDMT, YMAB, and ENOB, and nearly all the companies showed positive indicators of stock price percentage change (excluding OTLK and ENOB). The best performance was shown by VAXX and IDYA with 12.5% and 4.99%, while CMRX recorded a 2.87% increase YoY.

Source: Benzinga

Insider Transactions and Analyst Ratings

CMRX’s total number of outstanding shares is 87 million, of which the company’s employees own approximately 4.69% of the shares, while the major percentage (63.4%) of the shares are held by certain institutional investors. One of the most renowned analyst firms, HC Wainwright & Co.’s analyst Edward White maintained the CMRX rating to buy, raising its price target from $21.0 to $24.0.

Risk Factors

Some of the risk factors linked with the company include current and next three years’ unprofitability, not a meaningful revenue, and less than one year of cash runway for its operations.

Bottom Line

CMRX revenue is expected to grow by 40.3% per year and it is trading at 95.3% below its fair value estimates. So, the investors should be prudent before investing in this stock, as the earnings are predicted to grow by an average of 76% in the next three years.

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