Achillion Pharmaceuticals Insider Sells $7,392,000 in Stock (ACHN)
Achillion Pharmaceuticals (NASDAQ:ACHN) Insider Ra Capital Management, Llc sold 880,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $8.40, for a total transaction of $7,392,000.00. The sale 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 2.32% on Tuesday, hitting $7.59. 5,759,585 shares of the company’s stock traded hands. Achillion Pharmaceuticals has a 52 week low of $2.26 and a 52 week high of $8.61. The stock has a 50-day moving average of $4.17 and a 200-day moving average of $3.54. The company’s market cap is $734.7 million. Achillion Pharmaceuticals also was the recipient of a significant increase in short interest during the month of June. As of June 13th, there was short interest totalling 21,842,028 shares, an increase of 10.1% from the May 30th total of 19,832,470 shares. Approximately 26.3% of the shares of the company are short sold. Based on an average trading volume of 18,891,416 shares, the days-to-cover ratio is presently 1.2 days.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.17) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.16) by $0.01. On average, analysts predict that Achillion Pharmaceuticals will post $-0.77 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on ACHN shares. Analysts at Wells Fargo & Co. raised their price target on shares of Achillion Pharmaceuticals to $8.00 in a research note on Monday. Separately, 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, June 16th. They now have a “buy” rating on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.74.
Achillion Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for infectious diseases.
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