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What: Shares of biotech Inhibitex
So what: Last week, Inhibitex shares got crushed when fellow drugmaker Pharmasset
Now what: Canaccord analyst George Farmer believes the sell-off was an overreaction and recommends aggressively buying the shares, while the company has assigned a price target of $22 to complement its rating. The $22 price target represents more than double Friday's close of $10.45, and even a healthy 91% higher than today's high so far of $11.49. Farmer believes the Street is factoring in higher risks with INX-189, which he believes is presenting an attractive entry point.
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Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.