Traders Purchase Large Volume of Achillion Pharmaceuticals Put Options (ACHN)
Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) saw unusually large options trading activity on Monday. Stock traders purchased 4,447 put options on the stock, American Banking News reports. This represents an increase of 622% compared to the average daily volume of 616 put options.
In other Achillion Pharmaceuticals news, major shareholder Ra Capital Management, Llc sold 4,235,000 shares of Achillion Pharmaceuticals stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.53, for a total transaction of $40,359,550.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 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 Credit Suisse reiterated a “neutral” rating on shares of Achillion Pharmaceuticals in a research note on Thursday. They now have a $10.00 price target on the stock, up previously from $4.00. Separately, analysts at Deutsche Bank upgraded shares of Achillion Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Monday, August 18th. They now have a $17.00 price target on the stock, up previously from $6.00. Finally, analysts at Maxim Group reiterated a “buy” rating on shares of Achillion Pharmaceuticals in a research note on Friday, August 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $9.50.
Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) traded up 10.45% during mid-day trading on Monday, hitting $10.78. The stock had a trading volume of 14,962,208 shares. Achillion Pharmaceuticals has a 52 week low of $2.26 and a 52 week high of $10.18. The stock’s 50-day moving average is $7.6 and its 200-day moving average is $4.81. The company’s market cap is $1.054 billion.
Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its 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 $-0.69 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.
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