Market Overview

UPDATE: Wedbush Downgrades Idenix Pharmaceuticals to Neutral on Long-Term Clarity

Related IDIX
Exclusive: Enanta Pharmaceuticals CEO Jay Luly Discusses Hep C Pipeline
Stock Market News for July 01, 2014 - Market News
Stocks Poised to Slip from Record Highs (Fox Business)

Wedbush downgraded Idenix Pharmaceuticals (NASDAQ: IDIX) from Outperform to Neutral and lowered the price target from $7.00 to $6.00.

Wedbush noted, "On Monday, Idenix announced a collaboration with JNJ for IDX719 (NS5A) to be paired with simeprevir (TMC435; PI) and TMC647055 (NNI) in Phase 2 studies, beginning this quarter, pending DDI work and regulatory approval. The collaboration is non-exclusive and Idenix is responsible for conducting the studies and the majority of expenses. The deal puts Idenix back in the clinic after the recent setbacks, but the longer-term outlook for an IDIX/JNJ combination is less clear given the competitive space and JNJ's slate of existing collaborations with Vertex, and BMS."

Idenix Pharmaceuticals closed at $4.74 on Tuesday.

Posted-In: WedbushAnalyst Color Downgrades Analyst Ratings


Most Popular

Related Articles (IDIX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free