Zacks Investment Research downgraded shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) from a hold rating to a sell rating in a report released 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.”
Other equities research analysts have also recently issued reports about the company. BidaskClub upgraded Achillion Pharmaceuticals from a hold rating to a buy rating in a research note on Thursday, July 6th. Maxim Group lowered their price objective on Achillion Pharmaceuticals from $8.00 to $5.00 and set a buy rating on the stock in a research note on Tuesday, April 25th. TheStreet cut Achillion Pharmaceuticals from a c- rating to a d rating in a research note on Wednesday, March 22nd. Jefferies Group LLC reaffirmed a hold rating on shares of Achillion Pharmaceuticals in a report on Wednesday, April 26th. Finally, Leerink Swann raised Achillion Pharmaceuticals from a market perform rating to an outperform rating and lifted their target price for the company from $4.00 to $6.00 in a report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $8.75.
Shares of Achillion Pharmaceuticals (ACHN) traded up 1.01% during midday trading on Tuesday, hitting $4.01. 2,072,349 shares of the company traded hands. The stock’s market capitalization is $548.26 million. Achillion Pharmaceuticals has a 12-month low of $3.15 and a 12-month high of $9.49. The stock’s 50-day moving average is $4.38 and its 200 day moving average is $4.12.
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Several institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Achillion Pharmaceuticals during the fourth quarter worth approximately $4,623,000. Renaissance Technologies LLC increased its position in shares of Achillion Pharmaceuticals by 71.0% in the fourth quarter. Renaissance Technologies LLC now owns 945,189 shares of the biopharmaceutical company’s stock worth $3,904,000 after buying an additional 392,589 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Achillion Pharmaceuticals during the first quarter worth approximately $149,000. Wells Fargo & Company MN increased its position in shares of Achillion Pharmaceuticals by 11.9% in the first quarter. Wells Fargo & Company MN now owns 215,820 shares of the biopharmaceutical company’s stock worth $908,000 after buying an additional 22,931 shares in the last quarter. Finally, Emory University increased its position in shares of Achillion Pharmaceuticals by 7.1% in the first quarter. Emory University now owns 486,438 shares of the biopharmaceutical company’s stock worth $2,048,000 after buying an additional 32,336 shares in the last quarter. Institutional investors own 70.83% of the company’s stock.
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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