The GuruFocus 52-week low screener reveals that Idenix Pharmaceuticals (IDIX) is at a 52-week low, with a low price of $3.32 (73.7% off its $12.61 high). Two Guru investors Steven Cohen and Seth Klarman appear to value this stock, as they are holding on.
Today’s IDIX share price is $3.33, down 63% over 12 months, and down 34% since January.
Idenix Pharmaceuticals Inc. (IDIX) competes with other pharmaceutical companies in developing and launching new drugs that are effective in treating hepatitis and HIV/AIDS. Idenix has discovered and developed “inhibitors” to inhibit viral replication in the treatment of hepatitis B and C, and HIV/AIDS.
IDIX is of special interest because of the FDA's new designation of a "breakthrough" product category. Under this designation, drug makers can now win approval for their new drugs after just a single round of testing instead of three. This new designation could help Idenix Pharmaceuticals Inc. and others sped up their time to market in the highly competitive industry where the FDA can stop the momentum of a drug product with its lengthy approval process.
Idenix Pharmaceuticals has a market cap of $446.1 million and lists a P/B of 2, and P/S of 5.96. The company reported revenues of $69.7 million for the full year 2012, compared to revenues of $7 million a year prior.
As of quarter ending Dec. 31, 20120, SAC Capital Advisor’s founder Guru Steven Cohen last increased his IDIX position by 415.44% bringing his current shares to 70,100.
Steven Cohen’s holding history:
But the major IDIX stakeholder is Guru Seth Klarman of The Baupost Group, who owns 24,740,200 shares.
Seth Klarman’s holding history:
After being put on hold by the FDA in a long regulatory process, Idenix Pharmaceuticals announced in February that it was taking a different path. Ron Renaud, Idenix president and CEO, said, “Although we are choosing not to continue our IDX184 and IDX19368 programs, we intend to maintain our strong presence in developing nucleotide polymerase inhibitors for HCV based on our broad discovery platform.”
Renaud added that the company was pleased with the progress of IDX719, another kind of inhibitor used in treating hepatitis C virus. In January Idenix entered into a collaboration with Janssen Pharmaceuticals Inc. for the development of antiviral HCV therapies incorporating IDX719.
Gurus who sold out their IDIX as of quarter ending Sept. 30, 2012, or later are Jean-Marie Eveillard, RS Investment Management and Louis Moore Bacon.
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