Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) from a hold rating to a sell rating in a report released on Friday.
According to Zacks, “Achillion generated no revenue in Q2 while loss was in line with estimates. The company 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. The HCV market also represents huge commercial potential. 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 and dependence on collaboration for funds.”
A number of other brokerages have also recently weighed in on ACHN. BidaskClub cut Achillion Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, July 12th. Chardan Capital decreased their price objective on Achillion Pharmaceuticals from $5.00 to $4.00 and set a neutral rating on the stock in a report on Wednesday, August 9th. Robert W. Baird cut Achillion Pharmaceuticals from an outperform rating to a neutral rating and set a $5.00 price objective on the stock. in a report on Thursday. Jefferies Group LLC reissued a hold rating on shares of Achillion Pharmaceuticals in a report on Wednesday, April 26th. Finally, Maxim Group decreased their price objective on Achillion Pharmaceuticals from $8.00 to $5.00 and set a buy rating on the stock in a report on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $8.25.
Achillion Pharmaceuticals (NASDAQ ACHN) opened at 4.695 on Friday. The stock has a 50 day moving average price of $4.39 and a 200 day moving average price of $4.13. Achillion Pharmaceuticals has a 1-year low of $3.15 and a 1-year high of $9.50. The firm’s market cap is $642.09 million.
Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.16). During the same period in the previous year, the firm earned ($0.14) EPS. On average, analysts anticipate that Achillion Pharmaceuticals will post ($0.63) EPS for the current year.
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Several institutional investors have recently bought and sold shares of ACHN. Russell Investments Group Ltd. acquired a new position in Achillion Pharmaceuticals during the fourth quarter valued at about $162,000. Dimensional Fund Advisors LP boosted its position in Achillion Pharmaceuticals by 224.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 405,802 shares of the biopharmaceutical company’s stock valued at $1,676,000 after buying an additional 280,620 shares during the period. Norges Bank acquired a new position in Achillion Pharmaceuticals during the fourth quarter valued at about $4,623,000. Teachers Advisors LLC boosted its position in Achillion Pharmaceuticals by 23.2% in the fourth quarter. Teachers Advisors LLC now owns 943,541 shares of the biopharmaceutical company’s stock valued at $3,897,000 after buying an additional 177,537 shares during the period. Finally, Creative Planning boosted its position in Achillion Pharmaceuticals by 2.0% in the first quarter. Creative Planning now owns 155,576 shares of the biopharmaceutical company’s stock valued at $655,000 after buying an additional 3,000 shares during the period. 70.70% of the stock is currently owned by hedge funds and other institutional investors.
About Achillion Pharmaceuticals
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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