Market Overview

UPDATE: JP Morgan Cuts PT to $13 on Idenix Pharmaceuticals on Model Update Post Q4

Related IDIX
Biotech ETFs Hitting New Highs On Takeover News (FBT, PBE, ITMN)
UPDATE: Deutsche Bank Initiates Coverage On Merck
Stocks Poised to Slip from Record Highs (Fox Business)

JP Morgan maintained Idenix Pharmaceuticals (NASDAQ: IDIX) with an Overweight and lowers the price target from $15.00 to $13.00.

JP Morgan noted, "Overall, we expect Idenix to make solid pipeline progress in 1H13; however, Idenix is likely to be more of a 2H13 story as this is when early readouts from the aforementioned trials could be available (timelines not yet specified). We are reiterating our Overweight rating on IDIX shares, on the longterm promise of the early-stage pipeline (decreasing December 2013 price target to $13 from $15, on aggregate model changes). … We have raised R&D and SG&A to reflect the advancing hep-C pipeline and increased legal costs, respectively."

Idenix Pharmaceuticals closed at $4.40 on Monday.

Latest Ratings for IDIX

DateFirmActionFromTo
Jun 2014UBSDowngradesBuyNeutral
Jun 2014BairdUpgradesUnderperformNeutral
Jan 2014JMP SecuritiesDowngradesMarket PerformMarket Underperform

View More Analyst Ratings for IDIX
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (IDIX)

Around the Web, We're Loving...

Get Benzinga's Newsletters