Zacks Investment Research Downgrades Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) to Sell
Zacks Investment Research cut shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) from a hold rating to a sell rating in a report published on Tuesday, July 11th.
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. Meanwhile, Achillion’s deal with J&J for its HCV portfolio provides the company with a strong and experienced partner and will also bring in funds. However, Merck is also developing similar therapy for HCV genotype infections. Also, we remain concerned about the early-stage nature of the complement Factor D pipeline. Moreover, shares of the company have underperformed the Medical-Biomed/Genetics industry so far this year. Estimates have remained mostly stable lately ahead of the Q2 results. The company has a mixed record of earnings surprises in recent quarters.”
Several other equities analysts have also issued reports on the company. Robert W. Baird boosted their price target on Achillion Pharmaceuticals from $5.00 to $10.00 and gave the company an outperform rating in a research note on Monday, April 24th. TheStreet lowered Achillion Pharmaceuticals from a c- rating to a d rating in a research note on Wednesday, March 22nd. Leerink Swann raised Achillion Pharmaceuticals from a market perform rating to an outperform rating and upped their target price for the stock from $4.00 to $6.00 in a research report on Thursday, May 18th. BidaskClub raised Achillion Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, July 6th. Finally, Jefferies Group LLC reaffirmed a hold rating on shares of Achillion Pharmaceuticals in a research report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $8.75.
Achillion Pharmaceuticals (NASDAQ:ACHN) traded up 1.03% on Tuesday, reaching $3.94. 758,407 shares of the company’s stock were exchanged. The firm’s market capitalization is $538.69 million. Achillion Pharmaceuticals has a 12 month low of $3.15 and a 12 month high of $9.49. The firm has a 50-day moving average of $4.40 and a 200-day moving average of $4.12.
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Large investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in Achillion Pharmaceuticals by 53.8% in the second quarter. Legal & General Group Plc now owns 42,900 shares of the biopharmaceutical company’s stock worth $196,000 after buying an additional 15,000 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Achillion Pharmaceuticals by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 611,634 shares of the biopharmaceutical company’s stock worth $2,808,000 after buying an additional 62,515 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Achillion Pharmaceuticals by 5.0% in the second quarter. Alps Advisors Inc. now owns 123,412 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 5,824 shares during the period. SG Americas Securities LLC increased its position in shares of Achillion Pharmaceuticals by 18.6% in the second quarter. SG Americas Securities LLC now owns 26,429 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 4,144 shares during the period. Finally, State of Wisconsin Investment Board acquired a new position in shares of Achillion Pharmaceuticals during the second quarter worth about $390,000. 71.24% of the stock is owned by institutional investors and hedge funds.
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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