Market Overview

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

Related IDIX
Pipeline Update from Idenix - Analyst Blog
Mid-Morning Market Update: Markets Mixed; A. Schulman Lifts Profit Outlook

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.

Posted-In: JP MorganAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (IDIX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free