Biotech Values

[its_the_oxygen]

Wedbush reiterates an 'Outperform' rating on Idenix Pharmaceuticals (Nasdaq: IDIX), raises price target from $5 to $7.

Wedbush analyst says, "Following EASL we are raising our price target for IDIX to $7, after we increased
IDX184’s probability of success in reaching the market from 37% to 57% in our probability-adjusted NPV model (Exhibit 2). We continue to assume an IDX184 partnership in our model, with $25M in upfront, $200M in total development and commercial milestones, and 25% royalties on worldwide sales. We use such royalty rate as a proxy to a potential deal structure which consists of 50:50 profit sharing in the US and double digit royalty on ex-US sales."


Idenix Pharmaceuticals, Inc. (Idenix) is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases with operations in the United States and Europe.