Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Achillion reported narrower-than-expected loss in the third quarter and generated no revenues in the reported quarter. 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.”

Several other analysts also recently commented on the stock. Robert W. Baird restated an “outperform” rating and set a $10.00 target price on shares of Achillion Pharmaceuticals in a report on Sunday, November 6th. Chardan Capital upgraded shares of Achillion Pharmaceuticals from a “sell” rating to a “neutral” rating and set a $5.00 target price on the stock in a report on Friday, November 4th. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Achillion Pharmaceuticals in a report on Thursday, November 3rd. Leerink Swann restated a “market perform” rating on shares of Achillion Pharmaceuticals in a report on Thursday, November 3rd. Finally, Jefferies Group restated a “hold” rating on shares of Achillion Pharmaceuticals in a report on Monday, September 26th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $10.56.

Analyst Recommendations for Achillion Pharmaceuticals (NASDAQ:ACHN)

Achillion Pharmaceuticals (NASDAQ:ACHN) traded down 5.20% during mid-day trading on Tuesday, reaching $4.19. 1,949,565 shares of the company’s stock traded hands. Achillion Pharmaceuticals has a 1-year low of $3.78 and a 1-year high of $10.95. The firm has a 50-day moving average price of $6.17 and a 200-day moving average price of $7.95. The stock’s market cap is $572.69 million.

Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. Equities research analysts anticipate that Achillion Pharmaceuticals will post ($0.61) EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in ACHN. BlackRock Fund Advisors boosted its position in Achillion Pharmaceuticals by 2.3% in the first quarter. BlackRock Fund Advisors now owns 4,573,313 shares of the biopharmaceutical company’s stock valued at $35,306,000 after buying an additional 102,179 shares in the last quarter. HBK Investments L P acquired a new stake in shares of Achillion Pharmaceuticals during the first quarter valued at about $455,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Achillion Pharmaceuticals during the first quarter valued at about $101,000. Creative Planning increased its stake in shares of Achillion Pharmaceuticals by 0.8% in the second quarter. Creative Planning now owns 133,175 shares of the biopharmaceutical company’s stock valued at $1,039,000 after buying an additional 1,000 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Achillion Pharmaceuticals during the second quarter valued at about $105,000. 79.80% of the stock is owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:ACHN

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