Stock Roundup: Chimerix (CMRX), Cal-Maine Foods (CALM), Kite Pharma (KITE)

Albany, New York (10/07/2014) – The FDA has approved the user of an experimental drug developed by Chimerix Inc (NASDAQ:CMRX) for use in emergency cases of Ebola. The drug, Brincidofovir, was reportedly approved for use in the treatment of Thomas Eric Duncan, an Ebola patient in Dallas. Duncan traveled to the U.S. from the West Africa where Ebola has already killed about 3,000 people and sickened more than 6,000 others. The approval of Brincidofovir for use in Ebola cases comes as a big boost to the profile of Chimerix Inc (NASDAQ:CMRX) in the fight against the deadly virus. The news about the use of the treatment in the Dallas Ebola patient helped lift shares of CMRX to a new high of $33.90.

Cal-Maine Foods Inc (NASDAQ:CALM) announced an encouraging 1Q2015 performance result. The company reported that net sales reached $356.9 million in the quarter, which was 12% better than the like quarter in the prior year. Additionally, CALM registered net income of $27.7 million or $1.15 per basic share but $1.14 per diluted share. That compared with a net income of $8.8 million or $0.36 per basic and diluted shares in the comparable quarter a year earlier. The management cited that the gains in the latest quarter were driven by strong demand for eggs amid favorable selling prices. As such, sales volumes were high in the quarter as an increase in prices also boosted revenue. Cal-Maine Foods Inc (NASDAQ:CALM) anticipate the demand for eggs to remain high. The solid performance in 1Q was responsible for the new 52-week high of $96.55 that the stock attained.

Kite Pharma Inc (NASDAQ:KITE) was initiated at Guggenheim Securities. The firm issued a “buy” rating on the stock and set a target price of $73 on it. KITE has also been the subject of equity analysts at Credit Suisse, Stifel Financial and Jefferies Group, where it carries target prices of $34, $31 and $35, respectively. The latter three rating firms issued their price targets on the stock of KITE in August.

About the Author

Laurie, a long-time member of the US Markets Daily general assignment reporter who has covered a variety of subjects from breaking news to investigative features, from stock markets to politics, and from neighborhood small business to global warming.

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