Achillion Pharmaceuticals, Inc. (ACHN) Upgraded to “Buy” at Zacks Investment Research
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $4.50 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.11% from the company’s current price.
According to Zacks, “Achillion generated no revenue in Q2 while loss was narrower than the estimates. The company has no approved product in its portfolio and focuses on developing small molecule therapeutics to treat infectious and complement-mediated diseases. Meanwhile, the company has shown progress in developing Factor D inhibitors. The lead candidate, ACH-4471 has shown clinically meaningful complement inhibition of factor D in PNH patients. Meanwhile, another factor D inhibitor candidate will be advanced to phase I study this year. Though this area has commercial opportunity the complement-mediated space is highly crowded as many biotech companies are working on bringing these treatments to market. In a major setback, J&J terminated its HCV agreement in September and Achillion lost a strong and experienced partner and source of funds. Meanwhile, shares have underperformed the industry so far this year.”
ACHN has been the subject of several other reports. Maxim Group set a $7.00 price objective on shares of Achillion Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, August 9th. BidaskClub upgraded shares of Achillion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 16th. ValuEngine downgraded shares of Achillion Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Monday, September 11th. Robert W. Baird downgraded shares of Achillion Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Thursday, August 10th. Finally, Chardan Capital reiterated a “neutral” rating on shares of Achillion Pharmaceuticals in a research note on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. Achillion Pharmaceuticals has a consensus rating of “Hold” and an average price target of $5.33.
Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) opened at $4.05 on Monday. Achillion Pharmaceuticals has a twelve month low of $3.15 and a twelve month high of $5.66.
Achillion Pharmaceuticals (NASDAQ:ACHN) last released its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. During the same quarter in the previous year, the company earned ($0.15) earnings per share. analysts forecast that Achillion Pharmaceuticals will post -0.63 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in ACHN. Janus Henderson Group PLC bought a new position in shares of Achillion Pharmaceuticals during the second quarter worth about $20,778,000. Dimensional Fund Advisors LP grew its position in shares of Achillion Pharmaceuticals by 204.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,868,968 shares of the biopharmaceutical company’s stock worth $8,579,000 after acquiring an additional 1,255,962 shares during the last quarter. Senzar Asset Management LLC bought a new position in shares of Achillion Pharmaceuticals during the second quarter worth about $4,966,000. EcoR1 Capital LLC bought a new position in shares of Achillion Pharmaceuticals during the second quarter worth about $3,410,000. Finally, Vanguard Group Inc. grew its position in shares of Achillion Pharmaceuticals by 7.2% during the first quarter. Vanguard Group Inc. now owns 9,585,823 shares of the biopharmaceutical company’s stock worth $40,357,000 after acquiring an additional 646,415 shares during the last quarter. Institutional investors and hedge funds own 74.62% 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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