Achillion Pharmaceuticals, Inc. (ACHN) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) from a buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “Achillion generated no revenue in Q3 while loss was narrower than the estimates. The company has no approved product in its portfolio and focuses on developing small molecule therapeutics to treat infectious and complement-mediated diseases. Meanwhile, the company has shown progress in developing Factor D inhibitors. The lead candidate, ACH-4471 has shown clinically meaningful complement inhibition of factor D in PNH patients. Meanwhile, another factor D inhibitor candidate will be advanced to phase I study this year. Though this area has commercial opportunity the complement-mediated space is highly crowded as many biotech companies are working on bringing these treatments to market. In a major setback, J&J terminated its HCV agreement in September and Achillion lost a strong and experienced partner and source of funds. Meanwhile, shares have underperformed the industry so far this year.”
Other research analysts have also recently issued reports about the company. BidaskClub upgraded Achillion Pharmaceuticals from a strong sell rating to a sell rating in a research report on Wednesday, August 16th. Robert W. Baird reissued a neutral rating and issued a $4.00 price objective (down from $5.00) on shares of Achillion Pharmaceuticals in a report on Tuesday, September 12th. Chardan Capital dropped 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. ValuEngine lowered Achillion Pharmaceuticals from a sell rating to a strong sell rating in a report on Monday, September 11th. Finally, Maxim Group set a $7.00 price objective on Achillion Pharmaceuticals and gave the company a buy rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $5.33.
Shares of Achillion Pharmaceuticals (ACHN) traded up $0.04 during mid-day trading on Wednesday, reaching $3.89. The company had a trading volume of 502,100 shares, compared to its average volume of 1,569,971. Achillion Pharmaceuticals has a 52 week low of $3.15 and a 52 week high of $5.66.
Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.04. During the same period in the previous year, the firm earned ($0.15) EPS. equities analysts predict that Achillion Pharmaceuticals will post -0.63 EPS for the current year.
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Several large investors have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Achillion Pharmaceuticals by 3.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 23,130 shares of the biopharmaceutical company’s stock worth $106,000 after acquiring an additional 800 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Achillion Pharmaceuticals by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 457,341 shares of the biopharmaceutical company’s stock worth $2,100,000 after acquiring an additional 2,850 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Achillion Pharmaceuticals by 6.4% in the second quarter. Bank of Montreal Can now owns 56,715 shares of the biopharmaceutical company’s stock worth $260,000 after acquiring an additional 3,410 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Achillion Pharmaceuticals by 1.8% in the second quarter. Wells Fargo & Company MN now owns 219,647 shares of the biopharmaceutical company’s stock worth $1,009,000 after acquiring an additional 3,827 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake 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 acquiring an additional 4,144 shares during the last quarter. 74.62% of the stock is currently owned by hedge funds and other institutional investors.
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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