Achillion Pharmaceuticals, Inc. (ACHN) Stock Rating Upgraded by 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 issued on Thursday.
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. In a major setback, J&J terminated its HCV agreement and Achillion lost a strong and experienced partner and source of funds. The HCV market represents huge commercial potential. Moreover, Merck is also developing similar therapy for HCV genotype infections. However, the company has shown progress in developing Factor D inhibitors. Meanwhile, shares have underperformed the industry so far this year.”
Other research analysts also recently issued reports about the stock. Ladenburg Thalmann Financial Services decreased their price target on shares of Achillion Pharmaceuticals from $9.00 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday. Maxim Group set a $7.00 price target on shares of Achillion Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday, August 9th. BidaskClub upgraded shares of Achillion Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Robert W. Baird reiterated a “neutral” rating and issued a $4.00 price target (down from $5.00) on shares of Achillion Pharmaceuticals in a research report on Tuesday. Finally, Chardan Capital decreased their price target on shares of Achillion Pharmaceuticals from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Achillion Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $7.69.
Shares of Achillion Pharmaceuticals (NASDAQ ACHN) traded down 2.39% during midday trading on Thursday, reaching $3.57. 1,376,257 shares of the company’s stock were exchanged. The stock’s market cap is $488.58 million. The firm has a 50 day moving average of $4.52 and a 200-day moving average of $4.20. Achillion Pharmaceuticals has a one year low of $3.15 and a one year high of $9.19.
Achillion Pharmaceuticals (NASDAQ:ACHN) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.16). During the same quarter in the prior year, the company earned ($0.14) earnings per share. On average, equities research analysts anticipate that Achillion Pharmaceuticals will post ($0.66) earnings per share for the current year.
Several hedge funds have recently made changes to their positions in ACHN. Janus Henderson Group PLC bought a new stake in shares of Achillion Pharmaceuticals during the 2nd quarter valued at $20,778,000. Dimensional Fund Advisors LP raised its position in shares of Achillion Pharmaceuticals by 204.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,868,968 shares of the biopharmaceutical company’s stock valued at $8,579,000 after purchasing an additional 1,255,962 shares during the period. Senzar Asset Management LLC bought a new stake in shares of Achillion Pharmaceuticals during the 2nd quarter valued at $4,966,000. EcoR1 Capital LLC bought a new stake in shares of Achillion Pharmaceuticals during the 2nd quarter valued at $3,410,000. Finally, Vanguard Group Inc. raised its position in shares of Achillion Pharmaceuticals by 7.2% during the 1st quarter. Vanguard Group Inc. now owns 9,585,823 shares of the biopharmaceutical company’s stock valued at $40,357,000 after purchasing an additional 646,415 shares during the period. Hedge funds and other institutional investors own 74.12% 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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