Achillion Pharmaceuticals major shareholder Qvt Associates Gp Llc Unloads 1,819,551 Shares (ACHN)
Achillion Pharmaceuticals (NASDAQ:ACHN) major shareholder Qvt Associates Gp Llc sold 1,819,551 shares of the stock on the open market in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $7.70, for a total value of $14,010,542.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
A number of analysts have recently weighed in on ACHN shares. Analysts at Maxim Group raised their price target on shares of Achillion Pharmaceuticals from $6.00 to $22.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Robert W. Baird upgraded shares of Achillion Pharmaceuticals from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 11th. They now have a $12.00 price target on the stock, up previously from $4.00. Finally, analysts at Deutsche Bank raised their price target on shares of Achillion Pharmaceuticals to $6.00 in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $7.71.
Achillion Pharmaceuticals (NASDAQ:ACHN) traded up 1.45% on Wednesday, hitting $7.69. 7,557,028 shares of the company’s stock traded hands. Achillion Pharmaceuticals has a 52-week low of $2.26 and a 52-week high of $8.49. The stock has a 50-day moving average of $3.58 and a 200-day moving average of $3.40. The company’s market cap is $744.4 million. Achillion Pharmaceuticals also was the recipient of some unusual options trading activity on Monday. Investors acquired 11,832 call options on the company. This represents an increase of approximately 995% compared to the average daily volume of 1,081 call options.
Achillion Pharmaceuticals (NASDAQ:ACHN) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.01. Analysts expect that Achillion Pharmaceuticals will post $-0.77 EPS for the current fiscal year.
Achillion Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for infectious diseases.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.