Wedbush Starts Idenix Pharmaceuticals Inc. (IDIX) at Neutral; IDX184 Has Blockbuster Potential, But Current Risk/Reward Balanced
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Price: $24.50 --0%
Rating Summary:
1 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 12
Rating Summary:
1 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 12
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Wedbush initiates coverage on Idenix Pharmaceuticals Inc. (NASDAQ: IDIX) with a Neutral. PT $6.00.
Wedbush analyst says, "IDIX’s Phase II nucleotide candidate, IDX184, holds blockbuster potential and may develop into a much sought-after asset for combination therapy, although the drug candidate is currently subject to a partial clinical hold after a Phase I combination trial involving another internally-developed Idenix drug candidate (IDX320) was halted due to evidence of hepatotoxicity. While we expect the hold to be lifted by the end of the year, we rate shares of IDIX at NEUTRAL due to the company’s enriched valuation compared to its peers, and the balanced risk/reward scenario to our fair value of $6."
For more ratings news on Idenix Pharmaceuticals Inc. click here and for the rating history of Idenix Pharmaceuticals Inc. click here.
Shares of Idenix Pharmaceuticals Inc. closed at $6.34 yesterday.
Wedbush analyst says, "IDIX’s Phase II nucleotide candidate, IDX184, holds blockbuster potential and may develop into a much sought-after asset for combination therapy, although the drug candidate is currently subject to a partial clinical hold after a Phase I combination trial involving another internally-developed Idenix drug candidate (IDX320) was halted due to evidence of hepatotoxicity. While we expect the hold to be lifted by the end of the year, we rate shares of IDIX at NEUTRAL due to the company’s enriched valuation compared to its peers, and the balanced risk/reward scenario to our fair value of $6."
For more ratings news on Idenix Pharmaceuticals Inc. click here and for the rating history of Idenix Pharmaceuticals Inc. click here.
Shares of Idenix Pharmaceuticals Inc. closed at $6.34 yesterday.
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