Chimerix, Inc. (NASDAQ:CMRX) is among the top losers of the stock market today, sinking -4.92% or (-0.18 points) to $3.48 from its previous close of $3.66. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 177193 contracts so far this session. CMRX shares had a relatively better volume day versus average trading capacity of 595.67 thousand shares, but with a 49.65 million float and a 27.53% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CMRX stock indicates that the average analyst price target is $4 per share. This means the stock has a potential increase of 14.94% from where the CMRX share price has been trading recently which is between $3.36 and $3.7. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3.
The shorts are climbing into Chimerix, Inc. (CMRX) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in CMRX shares. While short interest still represents only 2.53% of CMRX’s float, the number of shares shorted have risen by 36558. The number of shares shorted advanced to 1290742 shares, up from 1254184 shares during the preceding fortnight. With average daily trading volumes at 525381 shares, days to cover increased to about 1.436407 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of CMRX earnings conference call or presentation 9-May-19 12:30pm GMT” and dated May 17, 2019.
During the recent trading session for Chimerix, Inc. (NASDAQ:CMRX), the company witnessed their stock rise $0.39 over a week and surge $0.89 from the price 20 days ago. When compared to their established 52-week high of $5.04, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/06/18. The recent low of $1.74 stood for a -30.95% since 03/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.43 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Chimerix, Inc., the two-week RSI stands at 70.08. This figure suggests that CMRX stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current CMRX readings is similarly very revealing as it has a stochastic reading of 86.94% at this stage. This figure means that CMRX share price today is being oversold.
Technical chart claims that Chimerix, Inc. (CMRX) would settle between $3.79/share to $3.91/share level. However, if the stock price goes below the $3.45 mark, then the market for Chimerix, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $3.23 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.37. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JP Morgan lowered their recommendation on shares of CMRX from Neutral to Underweight in their opinion released on February 14. H.C. Wainwright, analysts launched coverage of Chimerix, Inc. (NASDAQ:CMRX) stock with a Buy recommendation, according to their flash note issued to investors on February 02. Analysts at FBR Capital are sticking to their Mkt Perform stance. However, on August 09, they lifted price target for these shares to $8 from $9.
CMRX equity has an average rating of 3, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 1 analysts rated Chimerix, Inc. (NASDAQ:CMRX) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CMRX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 55.67 while for the average stock in the same group, the multiple is 49.5.
Chimerix, Inc. (CMRX)’s current-quarter revenues are projected to climb by nearly 93.28% to hit $2.3 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -3.55% from $7.22 million to a noteworthy $6.96 million. At the other end of the current quarter income statement, Chimerix, Inc. is expected to see its adjusted earnings surge by roughly 5.13% to hit $-0.37 per share. For the fiscal year, CMRX’s earnings are projected to climb by roughly 17.48% to hit $-1.18 per share.