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TMCNet:  Investors look to Lighten Up on Shares of Idenix Pharmaceuticals, Shares Down 11.5% (IDIX)

[March 25, 2013]

Investors look to Lighten Up on Shares of Idenix Pharmaceuticals, Shares Down 11.5% (IDIX)

Mar 25, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Idenix Pharmaceuticals (NASDAQ:IDIX) is one of today's worst performing low-priced stocks, down 11.5% to $4.07 on 3.1x average daily volume. Thus far today, Idenix Pharmaceuticals has traded 2.4 million shares, vs. average volume of 766,000 shares per day. The stock has underperformed the Dow (-11.5% to the Dow's -0.3%) and underperformed the S&P 500 (-11.5% to the S&P's -0.1%) during today's trading.

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 $4.07, which is 21% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.8% while the 50-day MA has declined 1.1%.

Idenix Pharmaceuticals (NASDAQ:IDIX) has potential upside of 33.8% based on a current price of $4.07 and analysts' consensus price target of $5.44. The stock should run into initial resistance at its 50-day moving average (MA) of $4.62 and subsequent resistance at its 200-day MA of $6.03.

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).

SmarTrend is tracking the current trend status for Idenix Pharmaceuticals and will alert subscribers who have IDIX in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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