Wedbush Upgrades Idenix Pharmaceuticals Inc. (IDIX) to Outperform; Expect Growing Visibility for IDX184

Wedbush upgraded Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) from Neutral to Outperform, price target raised from $6 to $11.

Wedbush analyst says, "We are upgrading IDIX because of the heightened premium we believe big-pharma will place on the nucleotide class of drugs following consistently stellar data from Pharmasset’s (Nasdaq: VRUS) PSI-7977. Meanwhile, Idenix’s IDX184 represents one of only two clinical-stage nucs available for partnering and should undergo material derisking in early 2012."

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 $6.74 yesterday.

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