Inhibitex, Inc. (INHX)

[BullsEye]

McNicoll Lewis & Vlak Reiterates Buy rating on Inhibitex Following Positive Study Data

MLV & Co has reiterated their BUY rating and raised their price target on Inhibitex, Inc, (NASDAQ: INHX) on positive study data for INX-189, and better-than-estimates earnings.

In their report, MLV writes, "INHX announced top-line data studying the safety, efficacy, and tolerability of INX-189 from the first cohort of patients, dosed at 200 mg/day as monotherapy. Impressively, 200mg INX-189 given for seven days led to a -4.25log reduction of HCV RNA. While the study is still ongoing, these data are amongst the strongest observed for a nucleotide inhibitor to date." Further more, MLV saw Inhibitex Inc beat earnings estimates on greater cost efficiencies: "INHX reported 3Q:11 Net Loss of ($5.3M) and EPS of ($0.07), compared to the Street Consensus Estimates of ($6.7M) and EPS of ($0.09), and our estimates of ($5.7M) and EPS of ($0.08)."

As of close of trading on Friday, INHX was up 115.66% to $8.54 per share.

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