Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, July 18th.
According to Zacks, “Achillion has no approved product in its portfolio and focuses on developing small molecule therapeutics to treat infectious and complement-mediated diseases. The complement-mediated space is highly crowded as biotech companies are working on bringing these treatments to market. However this area has potential for commercial opportunity. Meanwhile, Achillion’s deal with J&J for its HCV portfolio provides the company with a strong and experienced partner and will also bring in funds. The HCV market also represents huge commercial potential.However, Merck is also developing similar therapy for HCV genotype infections. Also, we remain concerned about the early-stage nature of the complement Factor D pipeline and dependence on collaboration for funds. Estimates have remained mostly stable lately ahead of the Q2 results. The company has a mixed record of earnings surprises in recent quarters.”
Several other equities research analysts also recently issued reports on ACHN. TheStreet downgraded shares of Achillion Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Wednesday, March 22nd. Robert W. Baird raised their target price on shares of Achillion Pharmaceuticals from $5.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, April 24th. Maxim Group cut their target price on shares of Achillion Pharmaceuticals from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, April 25th. Jefferies Group LLC reiterated a “hold” rating on shares of Achillion Pharmaceuticals in a research note on Wednesday, April 26th. Finally, Leerink Swann upgraded shares of Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their target price for the company from $4.00 to $6.00 in a research note on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.25.
Achillion Pharmaceuticals (NASDAQ ACHN) traded up 2.67% during trading on Tuesday, hitting $5.00. The stock had a trading volume of 1,684,495 shares. Achillion Pharmaceuticals has a 12-month low of $3.15 and a 12-month high of $9.49. The company’s market capitalization is $683.80 million. The stock has a 50 day moving average price of $4.40 and a 200 day moving average price of $4.13.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.16). During the same quarter last year, the company earned ($0.14) earnings per share. Equities research analysts forecast that Achillion Pharmaceuticals will post ($0.63) earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Achillion Pharmaceuticals during the fourth quarter valued at approximately $4,623,000. Renaissance Technologies LLC boosted its position in shares of Achillion Pharmaceuticals by 71.0% in the fourth quarter. Renaissance Technologies LLC now owns 945,189 shares of the biopharmaceutical company’s stock valued at $3,904,000 after buying an additional 392,589 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Achillion Pharmaceuticals during the first quarter valued at approximately $149,000. Wells Fargo & Company MN boosted its position in shares of Achillion Pharmaceuticals by 11.9% in the first quarter. Wells Fargo & Company MN now owns 215,820 shares of the biopharmaceutical company’s stock valued at $908,000 after buying an additional 22,931 shares in the last quarter. Finally, Emory University boosted its position in shares of Achillion Pharmaceuticals by 7.1% in the first quarter. Emory University now owns 486,438 shares of the biopharmaceutical company’s stock valued at $2,048,000 after buying an additional 32,336 shares in the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.
About Achillion Pharmaceuticals
Achillion Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drug therapies for infectious diseases and immune system disorders. The Company is focused on its complement inhibitor platform, directed at advancing small molecule compounds that have the potential to be used in the treatment of immune-related diseases associated with the alternative pathway of the complement system.
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