Would final String charData = 3.14159265; work?
No: charData is an object of type String and 3.14159265 (without the quotes around it) is a literal of primitive type double. The style of using bit patterns is completely different, and a simple assignment statement won't work.
The characters "3.14159265" are contained inside String charData.
final String charData = "3.14159265";
double value;
value = Double.parseDouble( charData ) ;
System.out.println("value: " + value +" twice value: " + 2*value );
The assignment statement works in its usual two steps:
Usually this is called converting from character data to double precision floating point. But in reality the character data remains unaltered; a floating point value is calculated from it, but it does not change.