Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) Stock Rating Lowered by Zacks Investment Research
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
According to Zacks, “Achillion generated no revenue in Q2 while loss was in line with estimates. The company 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.”
A number of other research firms have also recently weighed in on ACHN. Robert W. Baird upped their price target on Achillion Pharmaceuticals from $5.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, April 24th. Maxim Group reduced their price target on Achillion Pharmaceuticals from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Achillion Pharmaceuticals in a report on Wednesday, April 26th. Leerink Swann raised Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $4.00 to $6.00 in a report on Thursday, May 18th. Finally, BidaskClub raised Achillion Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $8.25.
Shares of Achillion Pharmaceuticals (NASDAQ ACHN) traded up 1.81% during mid-day trading on Friday, reaching $4.51. The company’s stock had a trading volume of 825,567 shares. Achillion Pharmaceuticals has a 12-month low of $3.15 and a 12-month high of $9.49. The firm’s 50-day moving average price is $4.37 and its 200 day moving average price is $4.12. The firm’s market cap is $616.79 million.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.16). During the same period last year, the firm posted ($0.14) earnings per share. On average, analysts expect that Achillion Pharmaceuticals will post ($0.63) EPS for the current year.
A number of large investors have recently bought and sold shares of ACHN. Norges Bank purchased a new stake in Achillion Pharmaceuticals during the fourth quarter valued at approximately $4,623,000. Highbridge Capital Management LLC purchased a new stake in Achillion Pharmaceuticals during the first quarter valued at approximately $149,000. Wells Fargo & Company MN raised its stake in Achillion Pharmaceuticals by 11.9% in the first quarter. Wells Fargo & Company MN now owns 215,820 shares of the biopharmaceutical company’s stock worth $908,000 after buying an additional 22,931 shares during the period. Emory University raised its stake in Achillion Pharmaceuticals by 7.1% in the first quarter. Emory University now owns 486,438 shares of the biopharmaceutical company’s stock worth $2,048,000 after buying an additional 32,336 shares during the period. Finally, Bank of Montreal Can raised its stake in Achillion Pharmaceuticals by 12,296.5% in the first quarter. Bank of Montreal Can now owns 53,305 shares of the biopharmaceutical company’s stock worth $224,000 after buying an additional 52,875 shares during the period. Institutional investors own 70.83% of the company’s stock.
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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