Achillion Pharmaceuticals, Inc. (ACHN) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) from a hold rating to a buy rating in a research note issued to investors on Monday morning. The brokerage currently has $4.25 target price on the biopharmaceutical company’s stock.

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.”

A number of other equities analysts have also weighed in on ACHN. BidaskClub lowered shares of Achillion Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, July 25th. Chardan Capital reduced their target price on shares of Achillion Pharmaceuticals from $5.00 to $4.00 and set a neutral rating for the company in a research note on Wednesday, August 9th. Maxim Group set a $7.00 target price on shares of Achillion Pharmaceuticals and gave the stock a buy rating in a research note on Wednesday, August 9th. Robert W. Baird cut shares of Achillion Pharmaceuticals from an outperform rating to a neutral rating and set a $5.00 price target on the stock. in a research report on Thursday, August 10th. Finally, ValuEngine cut shares of Achillion Pharmaceuticals from a sell rating to a strong sell rating in a research report on Monday, September 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Achillion Pharmaceuticals presently has an average rating of Hold and a consensus target price of $5.29.

Shares of Achillion Pharmaceuticals (NASDAQ ACHN) traded up $0.53 during midday trading on Monday, reaching $3.56. 14,869,300 shares of the company were exchanged, compared to its average volume of 1,653,462. Achillion Pharmaceuticals has a 12-month low of $2.95 and a 12-month high of $5.66.

Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. During the same quarter last year, the business earned ($0.15) earnings per share. analysts predict that Achillion Pharmaceuticals will post -0.63 earnings per share for the current year.

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Several hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Achillion Pharmaceuticals by 3.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 23,130 shares of the biopharmaceutical company’s stock valued at $106,000 after purchasing an additional 800 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Achillion Pharmaceuticals by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 457,341 shares of the biopharmaceutical company’s stock valued at $2,100,000 after purchasing an additional 2,850 shares during the period. Bank of Montreal Can raised its holdings in shares of Achillion Pharmaceuticals by 6.4% in the 2nd quarter. Bank of Montreal Can now owns 56,715 shares of the biopharmaceutical company’s stock valued at $260,000 after purchasing an additional 3,410 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Achillion Pharmaceuticals by 1.8% in the 2nd quarter. Wells Fargo & Company MN now owns 219,647 shares of the biopharmaceutical company’s stock valued at $1,009,000 after purchasing an additional 3,827 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Achillion Pharmaceuticals by 18.6% in the 2nd quarter. SG Americas Securities LLC now owns 26,429 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 4,144 shares during the period. 74.81% of the stock is currently owned by 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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Analyst Recommendations for Achillion Pharmaceuticals (NASDAQ:ACHN)

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