Inhibitex, Inc. (INHX)

[mlkrborn]

Both OPTR and INHX in positive view: Both FDA plays.. INHX target price $7


* March 31, 2011, 3:51 PM ET

Canaccord Bullish on OPTR, INHX



By Teresa Rivas

Canaccord Genuity analyst George Farmer today reiterated his Buy ratings on both Inhibitex (INHX) and Optimer Pharmaceuticals (OPTR), on positive data and an upcoming FDA meeting, respectively.

For Inhibitrex, Farmer raised his target price from $5 to $7, on the release of positive seven-day dosing data from a Phase Ib trial evaluating INX-189 for treatment of hepatitis C virus infection.

“Though early, we think these data further strengthen the value proposition of INX-189 and support further evaluation in longer-term combination HCV trials,” he wrote in a research note. “Clinical-stage nucs like INX-189 will likely form the backbone of future HCV therapy, in our view, and scarcity could make INX-189 a highly coveted asset once longer-term safety trials are complete.”

Farmer is also bullish on Optimer Pharmaceuticals ahead of an FDA advisory committee meeting next week, as he anticipates it will support the company’s lead drug, fidaxomicin, for treatment of C. diff. infection, the most common cause for antimicrobial, drug-associated diarrhea in the U.S.

“Initially to be positioned in a ‘high-risk’ treatment market and in vancomycin failures, we model for a slow ramp to peak fidaxomicin sales of $250 million by 2016,” he wrote.
http://blogs.barrons.com/stockstowatchtoday/2011/03/31/canaccord-likes-optr-inhx/?mod=yahoobarrons