Bank of America reiterates Buy, $18 PO on Idenix

Bank of America reiterates its Buy rating and $18 price objective on Idenix (NASDAQ: IDIX) on positive news regarding the company's IDX-184.

Bank of America comments, "IDIX announced this morning the removal of the partial clinical hold by the FDA on its nucleoside inhibitor IDX184, which is a positive but necessary development for the program to move forward. The next important step for IDIX will be to sign partnerships to generate all oral combination data. These data are crucial to create strategic value for IDX-184. Internally, IDIX may now open enrollment to the remaining 30 patients in the ongoing Phase 2b study and also evaluate IDIX- 184 in an interferon free regimen."

IDIX closed at $12 on Thursday.