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Fly News Breaks for February 4, 2016
CMRX
Feb 4, 2016 | 06:56 EDT
Citi analyst Yigal Nochomovitz points out that Chimerix continues to trade near the company's cash position of around $7 per share. In a research note titled "Don't Throw the Baby (Brincidofovir in Kidney Transplant) Out With the Bathwater (SUPPRESS Blow-Up)," Nochomovitz says the Street has left brincidofovir "for dead" following the failed Phase 3 trial in bone marrow transplant. The drug, however, is still in Phase 3 testing for kidney transplant, the analyst tells investors. He sees potential for the Chimerix story to turn around as the kidney transplant opportunity comes into focus. Nochomovitz keeps a Buy rating on the name with a $19 price target.
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