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INHX had negative earnings out Friday but beat the EPS estimate by one cent and beat the top line estimate as well. INHX recently completed a $23 million private placement that was bought up mostly by insiders and just prior to the earnings release there were more insider buys coming in. The recent influx of cash gives the company enough capital to run through the end of 2011 and shoring up the balance sheet in the process. INHX had a partnership with Wyeth which was bought out by Pfizer and now their website lists Pfizer as a partner. INHX mostly trades above 50Day Moving Average and has outperformed the S&P all year. It is my opinion that any decent news could bring a 20%+ run.
Regards,
Don
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(INHX) Inhibitex’s Cash Position Now Solid
(Stock Blog Hub, 11/9/09)
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Biotech Bulls Initial Coverage: Inhibitex, Inc. (NASDAQ: INHX)
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It was a roller coaster day as INHX jumped out on strong volume to a 10.78% gain only for profit taking to kick in on strong volume and did take the price down to support and then buying came back in near the close and finished the day down .01 @1.01 with the High of the Day @1.13