Achillion Pharmaceuticals Inc. (ACHN) Downgraded to Hold at Zacks Investment Research
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.”
A number of other equities research analysts have also commented on the company. Leerink Swann reiterated a hold rating on shares of Achillion Pharmaceuticals in a research report on Sunday, June 12th. Chardan Capital upped their price target on Achillion Pharmaceuticals from $4.00 to $5.00 and gave the company a sell rating in a research report on Friday, September 23rd. Jefferies Group reiterated a hold rating on shares of Achillion Pharmaceuticals in a research report on Monday, September 26th. FBR & Co began coverage on Achillion Pharmaceuticals in a research report on Thursday, September 15th. They issued an outperform rating and a $16.00 price target on the stock. Finally, JMP Securities upgraded Achillion Pharmaceuticals from a market perform rating to an outperform rating and set a $13.00 price target on the stock in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Achillion Pharmaceuticals presently has a consensus rating of Hold and an average price target of $10.73.
Achillion Pharmaceuticals (NASDAQ:ACHN) traded up 1.41% during midday trading on Friday, hitting $7.90. The stock had a trading volume of 367,184 shares. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 161.22 and a beta of 2.10. The company’s 50 day moving average price is $8.25 and its 200-day moving average price is $8.46. Achillion Pharmaceuticals has a 52 week low of $5.57 and a 52 week high of $10.95.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. During the same period in the prior year, the business posted ($0.25) EPS. Equities analysts anticipate that Achillion Pharmaceuticals will post ($0.61) earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of ACHN. BlackRock Fund Advisors raised its stake in shares of Achillion Pharmaceuticals by 2.3% in the first quarter. BlackRock Fund Advisors now owns 4,573,313 shares of the biopharmaceutical company’s stock worth $35,306,000 after buying an additional 102,179 shares in the last quarter. HBK Investments L P bought a new stake in shares of Achillion Pharmaceuticals during the first quarter worth approximately $455,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Achillion Pharmaceuticals during the first quarter worth approximately $101,000. Swiss National Bank raised its stake in shares of Achillion Pharmaceuticals by 1.9% in the second quarter. Swiss National Bank now owns 189,100 shares of the biopharmaceutical company’s stock worth $1,475,000 after buying an additional 3,600 shares in the last quarter. Finally, Columbus Circle Investors raised its stake in shares of Achillion Pharmaceuticals by 46.0% in the second quarter. Columbus Circle Investors now owns 110,174 shares of the biopharmaceutical company’s stock worth $859,000 after buying an additional 34,720 shares in the last quarter. 79.43% of the stock is owned by hedge funds and other institutional investors.
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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