Idenix Pharmaceuticals (NASDAQ: IDIX) had its target price trimmed by JPMorgan Chase to $13.00 in a report released on Tuesday.
“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.,” the firm’s analyst commented.
Idenix Pharmaceuticals opened at 4.17 on Tuesday. Idenix Pharmaceuticals has a 1-year low of $3.35 and a 1-year high of $12.24. The stock’s 50-day moving average is currently $4.6. The company’s market cap is $558.4 million.
Several other analysts have also recently commented on the stock. Analysts at Robert W. Baird initiated coverage on shares of Idenix Pharmaceuticals in a research note to investors on Monday, February 11th. They set a neutral rating and a $5.00 price target on the stock. Separately, analysts at Wedbush downgraded shares of Idenix Pharmaceuticals from an outperform rating to a neutral rating in a research note to investors on Wednesday, January 30th. They now have a $6.00 price target on the stock, down previously from $7.00. Finally, analysts at Bank of America reiterated a neutral rating on shares of Idenix Pharmaceuticals in a research note to investors on Monday, January 28th. They now have a $7.00 price target on the stock, up previously from $6.00.
Five investment analysts have rated the stock with a buy rating, nine have issued a hold rating, and one has given a sell rating to the company. The stock presently has a consensus rating of overweight and a consensus price target of $6.27.
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