Here’s Why Chimerix, Inc. (CMRX) Is Skyrocketing

We recently compiled a list of the Why These 24 Stocks Are Skyrocketing. In this article, we are going to take a look at where Chimerix, Inc. (NASDAQ:CMRX) stands against the other stocks.

One of the strongest stock market anomalies is the momentum effect, which is the tendency of recent past winners to outperform the recent past losers. That’s why we decided to take a look at some of the recent past winners in this article. These 24 companies, predominantly involved in the quantum computing, biotechnology, and technology sectors, have performed significantly well in the final quarter of 2024, registering spectacular returns over the 3 months.

That said, let’s take a look at the top 24 stocks that have skyrocketed and pose a solid growth opportunity in the coming year. We will also explore how well the stocks have performed throughout the year and what they have in store for 2025.

To come up with 24 names, we considered only the stocks that have at least $2 billion in market capitalization and have registered commendable returns in the fourth quarter of 2024.

A scientist in a lab coat observing a sample under a microscope, illuminating the biopharmaceutical research undertaken by the company.

Chimerix, Inc. (NASDAQ:CMRX)

Q4 Returns as of December 31, 2024: 274%

CMRX surged 274% in the last quarter of 2024, underscoring investor optimism. As of January 10, the stock had jumped by 257% over the past year.

The biotechnology company is committed to developing innovative medicines for cancer and other serious diseases and improving the lives of patients. Over the past few months, the company has displayed accelerated performance in trials and has shown commitment to expanding its product pipeline.

Chimerix’s (NASDAQ:CMRX) novel drug, Dordaviprone- which holds the potential to treat patients with H3 K27M-mutant diffuse glioma- is currently being evaluated for phase 3 trials and is expected to release partial data by the third quarter of 2025.

Analysts have shared a bullish sentiment on the stock, with their median price target of $8 implying an upside of 121% from current levels.

Overall CMRX ranks 10th on our list of the stocks that are skyrocketing right now. While we acknowledge the potential of CMRX as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CMRX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article is originally published at Insider Monkey.