Canaccord Genuity Reiterates a 'Buy' on Inhibitex (INHX); INX-189/Ribavirin Synergy Supports Nuc Potency

November 30, 2011 8:50 AM EST
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Price: $26.00 --0%

Rating Summary:
    5 Buy, 5 Hold, 0 Sell

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Canaccord Genuity reiterates a 'Buy' on Inhibitex (NASDAQ: INHX) price target raised from $15 to $22.00.

Canaccord analyst says, "Increasing our likelihood of 189 approvals in GT2/3 and GT1 HCV treatment subgroups to 40% and 30% from 30% and 20%, respectively, and sticking to an estimated 2015 market launch, we arrive at our new target of $22. For now we see peak 189 sales of $3.7B in 2021 and 40% market share in what could be a $10-15B market for HCV nuc prodrugs. Gilead's (Nasdaq: GILD) intended $11B Pharmasset (Nasdaq: VRUS) acquisition supports this view."

For an analyst ratings summary and ratings history on Inhibitex click here. For more ratings news on Inhibitex click here.

Shares of Inhibitex closed at $13.70 yesterday.

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