Insider Selling: Achillion Pharmaceuticals major shareholder Unloads 2,711,352 Shares of Stock (ACHN)
Achillion Pharmaceuticals (NASDAQ:ACHN) major shareholder Ra Capital Management, Llc sold 2,711,352 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $11.33, for a total transaction of $30,719,618.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Achillion Pharmaceuticals (NASDAQ:ACHN) traded down 2.55% on Wednesday, hitting $11.45. The stock had a trading volume of 13,537,010 shares. Achillion Pharmaceuticals has a 52-week low of $2.26 and a 52-week high of $12.06. The stock’s 50-day moving average is $7.81 and its 200-day moving average is $4.95. The company’s market cap is $1.120 billion. Achillion Pharmaceuticals also was the target of some unusual options trading on Monday. Traders purchased 8,149 call options on the company. This represents an increase of 633% compared to the average daily volume of 1,112 call options.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its quarterly earnings data 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.
A number of research firms have recently commented on ACHN. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Achillion Pharmaceuticals in a research note on Thursday, August 21st. 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Achillion Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $9.50.
Achillion Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of treatments for infectious diseases.