Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, November 6th. The firm presently has a $4.50 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 38.89% from the stock’s previous close.
According to Zacks, “Achillion generated no revenue in Q2 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. Ladenburg Thalmann Financial Services decreased their price objective on Achillion Pharmaceuticals from $9.00 to $6.50 and set a “buy” rating on the stock in a report on Tuesday, September 12th. 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. BidaskClub cut Achillion Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Chardan Capital restated a “neutral” rating on shares of Achillion Pharmaceuticals in a research note on Sunday, September 17th. Finally, Robert W. Baird restated a “neutral” rating and set a $4.00 price target (down from $5.00) on shares of Achillion Pharmaceuticals in a research note on Tuesday, September 12th. Two 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. The company presently has an average rating of “Hold” and an average price target of $5.29.
Achillion Pharmaceuticals (NASDAQ:ACHN) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. During the same period last year, the firm earned ($0.15) earnings per share. sell-side analysts predict that Achillion Pharmaceuticals will post -0.63 EPS for the current fiscal year.
In other news, major shareholder & Johnson Johnson sold 18,367,346 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $2.75, for a total transaction of $50,510,201.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 7.24% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of ACHN. Cambridge Investment Research Advisors Inc. increased its holdings in 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 valued at $106,000 after buying an additional 800 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in 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 valued at $2,100,000 after buying an additional 2,850 shares during the last quarter. Bank of Montreal Can increased its holdings in Achillion Pharmaceuticals by 6.4% in the second quarter. Bank of Montreal Can now owns 56,715 shares of the biopharmaceutical company’s stock valued at $260,000 after buying an additional 3,410 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Achillion Pharmaceuticals by 1.8% in the second quarter. Wells Fargo & Company MN now owns 219,647 shares of the biopharmaceutical company’s stock valued at $1,009,000 after buying an additional 3,827 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Achillion Pharmaceuticals by 18.6% in the second quarter. SG Americas Securities LLC now owns 26,429 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 4,144 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.
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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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