Insider Selling: Ra Capital Management, Llc Sells 835,293 Shares of Achillion Pharmaceuticals Stock (ACHN)
Achillion Pharmaceuticals (NASDAQ:ACHN) major shareholder Ra Capital Management, Llc unloaded 835,293 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $11.63, for a total transaction of $9,714,457.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 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, 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 given a hold rating and seven have issued a buy rating to the company. Achillion Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $9.50.
Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) traded up 6.05% during mid-day trading on Tuesday, hitting $12.27. 10,420,227 shares of the company’s stock traded hands. Achillion Pharmaceuticals has a 1-year low of $2.26 and a 1-year high of $12.06. The stock has a 50-day moving average of $8.20 and a 200-day moving average of $5.1. The company’s market cap is $1.200 billion.
Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its earnings results on Thursday, August 7th. The company reported ($0.16) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.18) by $0.02. On average, analysts predict that Achillion Pharmaceuticals will post $-0.69 earnings per share 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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