Achillion Pharmaceuticals Stock Price Up 5% Following Strong Earnings (ACHN)
Achillion Pharmaceuticals (NASDAQ:ACHN) traded up 5% on Friday following a stronger than expected earnings report, American Banking & Market News reports. The company traded as high as $7.44 and last traded at $7.35, with a volume of 2,501,735 shares changing hands. The stock had previously closed at $7.00.
The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02.
Several analysts have recently commented on the stock. Analysts at JMP Securities upgraded shares of Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Friday. They now have a $13.00 price target on the stock. Separately, analysts at Wells Fargo & Co. raised their price target on shares of Achillion Pharmaceuticals to $8.00 in a research note on Monday, June 23rd. Finally, 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.10.
The stock’s 50-day moving average is $7.26 and its 200-day moving average is $4.41. The company’s market cap is $712.4 million.
Achillion Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for infectious diseases.
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