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Idenix Pharmaceuticals (NASDAQ:IDIX) hit a new 52-week high on Tuesday , Stock Ratings News reports. The company traded as high as $24.22 and last traded at $24.17, with a volume of 1,137,907 shares trading hands. The stock had previously closed at $24.10.

A number of research firms have recently commented on IDIX. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Idenix Pharmaceuticals in a research note on Tuesday, June 10th. They now have a $5.00 price target on the stock, down previously from $24.50. Separately, analysts at JMP Securities upgraded shares of Idenix Pharmaceuticals to a “market perform” rating in a research note on Monday, June 9th. Finally, analysts at Robert W. Baird upgraded shares of Idenix Pharmaceuticals from a “neutral” rating to an “outperform” rating in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.00.

The stock has a 50-day moving average of $14.37 and a 200-day moving average of $8.45. The company’s market cap is $3.646 billion. Idenix Pharmaceuticals also was the recipient of a large drop in short interest in June. As of June 13th, there was short interest totalling 16,866,953 shares, a drop of 15.9% from the May 30th total of 20,048,562 shares. Approximately 14.4% of the shares of the stock are sold short. Based on an average daily volume of 7,558,808 shares, the short-interest ratio is currently 2.2 days.

Idenix Pharmaceuticals (NASDAQ:IDIX) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.24) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.19) by $0.05. Analysts expect that Idenix Pharmaceuticals will post $-0.88 EPS for the current fiscal year.

Idenix Pharmaceuticals, Inc (NASDAQ:IDIX) 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 France.

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