UPDATE: Canaccord Raises Target to $22 on Inhibitex

Canaccord maintains its Buy rating on Inhibitex, Inc.

and raises its price target to $22 as INX-189/ribavirin synergy supports nuc potency. Cannaccord says, “Informed by solid combo 7-day treatment data, our outlook on lead HCV nuc prodrug INX-189 has vastly improved. Multiple catalysts should drive stock momentum into 2012. We maintain our BUY and increase our price target to $22 from $15.” INHX closed at $13.70 per share on Tuesday.