Achillion Pharmaceuticals Inc. (ACHN) Raised to Strong-Buy at 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 research note issued on Tuesday. The brokerage currently has a $9.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective points to a potential upside of 15.05% 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.”
ACHN has been the subject of several other reports. Jefferies Group reissued a “hold” rating on shares of Achillion Pharmaceuticals in a research report on Tuesday, August 9th. Wedbush assumed coverage on Achillion Pharmaceuticals in a research report on Thursday, September 22nd. They issued an “outperform” rating and a $13.00 price objective for the company. JMP Securities raised Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $13.00 price objective for the company in a research report on Thursday, July 7th. Leerink Swann reissued a “hold” rating on shares of Achillion Pharmaceuticals in a research report on Sunday, June 12th. Finally, FBR & Co assumed coverage on Achillion Pharmaceuticals in a research report on Thursday, September 15th. They issued an “outperform” rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Achillion Pharmaceuticals has an average rating of “Buy” and an average price target of $10.73.
Achillion Pharmaceuticals (NASDAQ:ACHN) traded down 1.057% during trading on Tuesday, hitting $7.955. 465,726 shares of the stock traded hands. The company has a 50-day moving average price of $8.35 and a 200 day moving average price of $8.46. The stock has a market cap of $1.09 billion, a PE ratio of 162.347 and a beta of 2.10. Achillion Pharmaceuticals has a one year low of $5.57 and a one year high of $10.95.
Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. During the same period last year, the company posted ($0.25) EPS. Analysts expect that Achillion Pharmaceuticals will post ($0.61) earnings per share for the current year.
Several hedge funds have recently made changes to their positions in ACHN. RTW Investments LLC raised its stake in shares of Achillion Pharmaceuticals by 31.1% in the first quarter. RTW Investments LLC now owns 2,558,859 shares of the biopharmaceutical company’s stock worth $19,754,000 after buying an additional 606,937 shares during the period. Vanguard Group Inc. raised its stake in shares of Achillion Pharmaceuticals by 5.7% in the second quarter. Vanguard Group Inc. now owns 8,454,713 shares of the biopharmaceutical company’s stock worth $65,947,000 after buying an additional 455,251 shares during the period. Bellevue Group AG acquired a new stake in shares of Achillion Pharmaceuticals during the first quarter worth $3,242,000. Emerald Acquisition Ltd. acquired a new stake in shares of Achillion Pharmaceuticals during the second quarter worth $1,393,000. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Achillion Pharmaceuticals by 4.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,021,403 shares of the biopharmaceutical company’s stock worth $23,567,000 after buying an additional 136,258 shares during the period. 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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