Insider Buying: Ra Capital Management, Llc Acquires 2,800,000 Shares of Achillion Pharmaceuticals Stock (ACHN)
Achillion Pharmaceuticals (NASDAQ:ACHN) Insider Ra Capital Management, Llc acquired 2,800,000 shares of Achillion Pharmaceuticals stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $2.98 per share, with a total value of $8,344,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) traded down 2.16% during mid-day trading on Friday, hitting $2.72. 2,489,891 shares of the company’s stock traded hands. Achillion Pharmaceuticals has a 1-year low of $2.62 and a 1-year high of $11.36. The stock’s 50-day moving average is $6.50 and its 200-day moving average is $7.24. The company’s market cap is $262.9 million. Achillion Pharmaceuticals also was the recipient of some unusual options trading activity on Tuesday. Traders acquired 17,719 call options on the company. This is an increase of 159% compared to the average daily volume of 6,831 call options.
ACHN has been the subject of a number of recent research reports. Analysts at Deutsche Bank downgraded shares of Achillion Pharmaceuticals (NASDAQ:ACHN) from a “buy” rating to a “hold” rating in a research note to investors on Monday. Separately, analysts at Wells Fargo & Co. downgraded shares of Achillion Pharmaceuticals (NASDAQ:ACHN) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. Finally, analysts at Piper Jaffray Cos. downgraded shares of Achillion Pharmaceuticals (NASDAQ:ACHN) from an “overweight” rating to a “neutral” rating in a research note to investors on Monday. They now have a $5.00 price target on the stock, down previously from $15.00. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.07.
Achillion Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for infectious diseases.
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