Shares of Anadys (ANDS) Trade Above $1; Analyst Believes Co. Could Get a Bid Following Setrobuvir Data

William Blair's Katherine Xu believes Anadys Pharma (Nasdaq: ANDS) may be acquired following the release of top-line 12-week Setrobuvir Phase IIb data sometime next week (or by mid-October at the latest). The analyst attaches a 50 percent chance of a buyout.

Xu notes Johnson & Johnson (NYSE: JNJ), Boehringer Ingelheim, GaxoSmithKline (NYSE: GSK) and Novartis (NYSE: NVS) are all possible suitors for the acquisition.

William Blair has an Outperform rating and $4 price target on shares of Anadys.

Shares of ANDS are trading up 7.1 percent to just barely over $1. Notably, the stock has not traded over this level since the beginning of August.

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