JPMorgan Raises Target on Pharmasset (VRUS) by 104% to $100, Marks New Street High

Shares of Pharmasset (Nasdaq: VRUS) are up 4 percent Thursday afternoon following some very bullish comments from JPMorgan earlier.

The firm boosted its price target on the stock by a whopping 104 percent from $49 to $100, citing optimism surrounding the NUC class and increased probability for pipeline success. JPMorgan believes NUC's could turn into the "go-to" drug within the HCV market when they are launched sometime in 2015 or 2016.

JPMorgan's new price target is the Street-high target by a whole $25.

The firm maintains an Overweight rating on shares of Pharmasset.

To track all the market-moving analyst action on VRUS shares, visit our Analyst Ratings page.

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