Catalysts Exist For IDIX Stock

Analysts at Thomas Weisel Partners reiterate their “overweight” rating on Idenix Pharmaceuticals, Inc (NASDAQ: IDIX). The price target for IDIX is set to $6.

According to the research note, Idenix Pharmaceuticals has announced “two additional dose cohorts of data from the Phase IIa trial of IDX184 dosed in combination with standard of care for 14 days, followed by 14 days of standard of care alone.” “Our only proxy for comparable nucleoside inhibitor data here is Phase II data from Roche/Pharmasset’s RG7128, which achieved similar efficacy data at Day 14 but with dosing regimens that utilized 20-30x more drug (1000 and 1500 mg BID) than is currently being evaluated in the current IDX184 trial. The RG7128 14-day data eventually translated into an 88% RVR, a fact that should bode quite well for IDX184,” the analysts say.

“We are expecting complete Phase IIa data from additional dose cohorts (up to 200 mg) by mid-year as well as Phase I healthy volunteer data on the protease inhibitor and non-nucleoside programs this week. We continue to believe there exists a number of actionable catalysts for the stock through at least YE10 and it remains our favorite idea in the space,” the analysts add.

More Analyst Ratings here.