Achillion Pharmaceuticals Inc. (ACHN) Lowered to Hold at Zacks Investment Research
Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Achillion a development-stage company is focused on the development of potent and specific complement factor D inhibitors for rare and other diseases. The complement-mediated disease area has significant commercial opportunity and represents upside potential for the company. Meanwhile, the deal with J&J for its HCV portfolio provides Achillion with a strong and experienced partner and will also bring in funds. It also allows the company to focus on its complement Factor D pipeline. However, we remain concerned about the early-stage nature of the complement Factor D pipeline. Moreover, competition in the HCV market continues to increase. Estimates have been mixed lately ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in recent quarters.”
Several other brokerages have also weighed in on ACHN. Chardan Capital increased their price objective on shares of Achillion Pharmaceuticals from $4.00 to $5.00 and gave the stock a “sell” rating in a report on Friday, September 23rd. FBR & Co started coverage on shares of Achillion Pharmaceuticals in a report on Thursday, September 15th. They set an “outperform” rating and a $16.00 price objective on the stock. Leerink Swann reiterated a “hold” rating on shares of Achillion Pharmaceuticals in a report on Sunday, June 12th. JMP Securities upgraded shares of Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a report on Thursday, July 7th. Finally, Jefferies Group reiterated a “hold” rating on shares of Achillion Pharmaceuticals in a report on Monday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.73.
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Achillion Pharmaceuticals (NASDAQ:ACHN) traded down 2.03% during trading on Friday, reaching $7.71. 447,983 shares of the company were exchanged. Achillion Pharmaceuticals has a 12 month low of $5.57 and a 12 month high of $10.95. The firm has a market capitalization of $1.05 billion, a PE ratio of 157.35 and a beta of 2.10. The stock has a 50 day moving average price of $8.28 and a 200 day moving average price of $8.46.
Achillion Pharmaceuticals (NASDAQ:ACHN) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. During the same quarter last year, the firm earned ($0.25) EPS. On average, analysts expect that Achillion Pharmaceuticals will post ($0.61) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of ACHN. Principal Financial Group Inc. raised its stake in Achillion Pharmaceuticals by 1.2% in the second quarter. Principal Financial Group Inc. now owns 20,829 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 253 shares in the last quarter. ProShare Advisors LLC raised its stake in Achillion Pharmaceuticals by 0.5% in the second quarter. ProShare Advisors LLC now owns 116,049 shares of the biopharmaceutical company’s stock worth $905,000 after buying an additional 524 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Achillion Pharmaceuticals by 2.9% in the second quarter. Parametric Portfolio Associates LLC now owns 32,787 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 937 shares in the last quarter. Creative Planning raised its stake in Achillion Pharmaceuticals by 0.8% in the second quarter. Creative Planning now owns 133,175 shares of the biopharmaceutical company’s stock worth $1,039,000 after buying an additional 1,000 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in Achillion Pharmaceuticals by 2.2% in the second quarter. BlackRock Group LTD now owns 47,980 shares of the biopharmaceutical company’s stock worth $374,000 after buying an additional 1,045 shares in the last quarter. Institutional investors own 79.43% of the company’s stock.
Achillion Pharmaceuticals Company Profile
Achillion Pharmaceuticals, Inc is a biopharmaceutical company. The Company’s primary business is to discover, develop and commercialize small molecule therapeutics for the treatment of infectious diseases and immune system disorders. The Company is focused on its complement inhibitor platform, directed at advancing small molecule compounds that have the potential to be used in the treatment of immune-related diseases associated with the complement system.
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