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UPDATE: Bank of America Downgrades Idenix Pharmaceuticals to Neutral on Regulatory Hurdles

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Bank of America lowered its rating on Idenix Pharmaceuticals (NASDAQ: IDIX) from Buy to Neutral and reduced its price objective from $8 to $6.

Bank of America commented, "We are downgrading IDIX shares from Buy to Neutral based on a series of recent conversations, with mgmt as well as industry & academic experts at recent conferences (ICAAC Sep 9-12, and EASL-AASLD HCV Special Conf Sep 14-16), that left us with limited hope that IDIX will convince the FDA to allow further clinical testing of HCV nuc drug candidates with a ā€œGā€ base."

Idenix Pharmaceuticals closed at $5.64 on Tuesday.

Posted-In: Bank of AmericaAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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