UPDATE: MLV Raises Price Target on Inhibitex to $26

According to MLV, Inhibitex

price target is raised to $26. MLV said that prior to start of the first major healthcare conference in San Francisco, Inhibitex announced that it signed a definitive agreement with Bristol-Myers Squibb Company (BMY, Not Covered) to be acquired for $26.00/share in cash, or an aggregate purchase price of ~$2.5Bil. “Not only has the deal has been approved by both companies, but approximately 17% of INHX shareholders have also entered into agreements to tender their shares. “ Inhibitex closed on Friday at $9.87.