Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) Rating Increased to Hold at Zacks Investment Research
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Achillion has no approved product in its portfolio and focuses on developing small molecule therapeutics to treat infectious and complement-mediated diseases. The complement-mediated space is highly crowded as biotech companies are working on bringing these treatments to market. However this area has potential for commercial opportunity. Meanwhile, Achillion’s deal with J&J for its HCV portfolio provides the company with a strong and experienced partner and will also bring in funds. The HCV market also represents huge commercial potential.However, Merck is also developing similar therapy for HCV genotype infections. Also, we remain concerned about the early-stage nature of the complement Factor D pipeline and dependence on collaboration for funds. Estimates have remained mostly stable lately ahead of the Q2 results. The company has a mixed record of earnings surprises in recent quarters.”
Other equities analysts have also issued reports about the company. Maxim Group lowered their target price on Achillion Pharmaceuticals from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, April 25th. BidaskClub raised Achillion Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Achillion Pharmaceuticals in a research report on Wednesday, April 26th. Leerink Swann raised Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $4.00 to $6.00 in a research report on Thursday, May 18th. Finally, Robert W. Baird upped their target price on Achillion Pharmaceuticals from $5.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $8.75.
Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) traded down 1.13% during mid-day trading on Tuesday, reaching $4.36. 710,876 shares of the company’s stock traded hands. Achillion Pharmaceuticals has a 12 month low of $3.15 and a 12 month high of $9.49. The company’s market cap is $596.11 million. The company has a 50 day moving average of $4.29 and a 200 day moving average of $4.09.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. During the same period last year, the business earned ($0.13) EPS. Analysts expect that Achillion Pharmaceuticals will post ($0.64) earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its stake in Achillion Pharmaceuticals by 6.4% in the second quarter. Bank of Montreal Can now owns 56,715 shares of the biopharmaceutical company’s stock worth $260,000 after buying an additional 3,410 shares during the last quarter. Credit Suisse AG raised its stake in Achillion Pharmaceuticals by 106.0% in the first quarter. Credit Suisse AG now owns 237,819 shares of the biopharmaceutical company’s stock worth $1,002,000 after buying an additional 122,361 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Achillion Pharmaceuticals by 7.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 83,027 shares of the biopharmaceutical company’s stock worth $350,000 after buying an additional 5,833 shares during the last quarter. Eventide Asset Management LLC bought a new stake in Achillion Pharmaceuticals during the first quarter worth approximately $2,526,000. Finally, Highbridge Capital Management LLC bought a new stake in Achillion Pharmaceuticals during the first quarter worth approximately $149,000. 71.27% of the stock is owned by institutional investors and hedge funds.
Achillion Pharmaceuticals Company Profile
Achillion Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drug therapies for 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 alternative pathway of the complement system.
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