Brean Murray Carret & Co. Upgrades Idenix Pharmaceuticals Inc. (IDIX) to Hold; IDX184 on Clinical Hold Again
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Price: $4.17 +6.92%
Rating Summary:
5 Buy, 11 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
5 Buy, 11 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade IDIX Now!
Brean Murray Carret & Co. upgraded Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) from Sell to Hold.
Analyst, Brian Skorney, said, "The fallout from BMS094 continues as the FDA also placed IDX184 on partial clinical hold due to the two drugs structural similarity. This is the second clinical hold IDX184 has experienced in as many years and will prevent the start of combination studies with their NS5a inhibitor, IDX719, which were planned to the start of the year. Though we have maintained that IDX184 is incapable of being the cornerstone of a competitive all oral regimen, this partial clinical hold will further delay arrival onto the market and allow the entrenchment of the leading regimens. Given the sharp decline in valuation, we are upgrading our rating while we wait on clarity around the next steps."
FY12 EPS estimate lowered from (0.66) to (0.75) and FY13 from (0.83) to (0.86)
For an analyst ratings summary and ratings history on Idenix Pharmaceuticals Inc. click here. For more ratings news on Idenix Pharmaceuticals Inc. click here.
Shares of Idenix Pharmaceuticals Inc. closed at $5.84 yesterday, with a 52 week range of $4.30-$15.25.
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Analyst, Brian Skorney, said, "The fallout from BMS094 continues as the FDA also placed IDX184 on partial clinical hold due to the two drugs structural similarity. This is the second clinical hold IDX184 has experienced in as many years and will prevent the start of combination studies with their NS5a inhibitor, IDX719, which were planned to the start of the year. Though we have maintained that IDX184 is incapable of being the cornerstone of a competitive all oral regimen, this partial clinical hold will further delay arrival onto the market and allow the entrenchment of the leading regimens. Given the sharp decline in valuation, we are upgrading our rating while we wait on clarity around the next steps."
FY12 EPS estimate lowered from (0.66) to (0.75) and FY13 from (0.83) to (0.86)
For an analyst ratings summary and ratings history on Idenix Pharmaceuticals Inc. click here. For more ratings news on Idenix Pharmaceuticals Inc. click here.
Shares of Idenix Pharmaceuticals Inc. closed at $5.84 yesterday, with a 52 week range of $4.30-$15.25.
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