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Fly News Breaks for February 22, 2016
CMRX
Feb 22, 2016 | 09:58 EDT
In a follow-up note to investors about Chimerix after the company hosted a call to provide additional details on the SUPPRESS study, Piper Jaffray analyst Joshua E. Schimmer said the additional information given by the company seems to support the premise that the GI side effects of brincidofovir confounded the study and that his confidence in the drug's outlook has actually increased after the trial and the call. The analyst, who noted that the stock is indicated to trade "well below cash," recommends that the stock be bought on weakness and maintains an Overweight rating on the shares, which are down 32% to $5.20 in early trading.
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