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Achillion Pharmaceuticals (NASDAQ:ACHN) was upgraded by Piper Jaffray from a “neutral” rating to an “overweight” rating in a report released on Monday, TheFlyOnTheWall.com reports. The firm currently has a $10.00 price objective on the stock, up from their previous price objective of $5.00. Piper Jaffray’s price target would suggest a potential upside of 35.87% from the company’s current price.

Achillion Pharmaceuticals (NASDAQ:ACHN) traded up 3.13% on Monday, hitting $7.59. The stock had a trading volume of 4,595,360 shares. Achillion Pharmaceuticals has a one year low of $2.26 and a one year high of $8.61. The stock has a 50-day moving average of $7.24 and a 200-day moving average of $4.43. The company’s market cap is $734.7 million.

Achillion Pharmaceuticals (NASDAQ:ACHN) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. Analysts expect that Achillion Pharmaceuticals will post $-0.74 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Wells Fargo & Co. upgraded shares of Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Monday. They now have a $10.00 price target on the stock, up previously from $7.36. Separately, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $8.80.

Achillion Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for infectious diseases.

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