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Hot Stock: Idenix Pharmaceuticals, Shares Drop 5.2% (IDIX)

Published on Wed, 01/09/2013 - 13:22
By Robert Cotter

Idenix Pharmaceuticals (NASDAQ:IDIX) is one of today's worst performing low-priced stocks, down 5.2% to $4.80 on 1.8x average daily volume. Thus far today, Idenix Pharmaceuticals has traded 1.8 million shares, vs. average volume of 983,000 shares per day. The stock has underperformed the Dow (-5.2% to the Dow's 0.4%) and underperformed the S&P 500 (-5.2% to the S&P's 0.2%) during today's trading.

Idenix Pharmaceuticals Inc. is a biopharmaceutical company that discovers and develops drugs for the treatment of human viral and other infectious diseases. The Company is focusing on the treatment of infections caused by hepatitis B virus, hepatitis C virus, and human immunodeficiency virus (HIV).

Idenix Pharmaceuticals (NASDAQ:IDIX) has potential upside of 37.6% based on a current price of $4.79 and analysts' consensus price target of $6.60. The stock should find resistance at its 200-day moving average (MA) of $7.09, as well as support at its 50-day MA of $4.69.

In the past 52 weeks, shares of Idenix Pharmaceuticals have traded between a low of $3.35 and a high of $15.25 and are now at $4.79, which is 43% above that low price. The 200-day and 50-day moving averages have moved 1.14% lower and 1.55% higher over the past week, respectively.

By Robert Cotter
rcotter@fnno.com