Achillion Pharmaceuticals Inc. (ACHN) Stock Rating Upgraded by Zacks Investment Research
Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The firm presently has a $9.25 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s target price indicates a potential upside of 18.74% from the company’s current price.
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.”
A number of other analysts have also recently issued reports on ACHN. Leerink Swann reaffirmed a “hold” rating on shares of Achillion Pharmaceuticals in a research note on Sunday, June 12th. Chardan Capital raised their target price on shares of Achillion Pharmaceuticals from $4.00 to $5.00 and gave the company a “sell” rating in a research note on Friday, September 23rd. Jefferies Group reaffirmed a “hold” rating on shares of Achillion Pharmaceuticals in a research note on Monday, September 26th. FBR & Co initiated coverage on shares of Achillion Pharmaceuticals in a research note on Thursday, September 15th. They set an “outperform” rating and a $16.00 target price for the company. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $10.00 target price on shares of Achillion Pharmaceuticals in a research note on Monday, June 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.73.
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Achillion Pharmaceuticals (NASDAQ:ACHN) opened at 7.79 on Tuesday. The stock has a 50 day moving average price of $8.25 and a 200 day moving average price of $8.46. The firm has a market cap of $1.06 billion, a P/E ratio of 158.98 and a beta of 2.10. Achillion Pharmaceuticals has a 52-week low of $5.57 and a 52-week high of $10.95.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. During the same quarter in the prior year, the company posted ($0.25) EPS. Equities analysts predict that Achillion Pharmaceuticals will post ($0.61) earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in ACHN. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Achillion Pharmaceuticals during the first quarter valued at approximately $101,000. Fox Run Management L.L.C. acquired a new stake in shares of Achillion Pharmaceuticals during the second quarter valued at approximately $105,000. Investment Centers of America Inc. boosted its stake in shares of Achillion Pharmaceuticals by 27.7% in the second quarter. Investment Centers of America Inc. now owns 13,733 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 2,975 shares during the last quarter. Princeton Alpha Management LP acquired a new stake in shares of Achillion Pharmaceuticals during the second quarter valued at approximately $109,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Achillion Pharmaceuticals by 13.0% in the second quarter. Teacher Retirement System of Texas now owns 15,173 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 1,749 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.
About Achillion Pharmaceuticals
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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