Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, November 6th. The firm presently has a $4.50 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 21.95% from the company’s current price.
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.”
Several other equities analysts have also recently issued reports on ACHN. BidaskClub cut Achillion Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Ladenburg Thalmann Financial Services cut their price target on Achillion Pharmaceuticals from $9.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday, September 12th. Maxim Group set a $7.00 price target on Achillion Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 9th. Chardan Capital reissued a “neutral” rating on shares of Achillion Pharmaceuticals in a report on Sunday, September 17th. Finally, Robert W. Baird lowered Achillion Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $5.00 target price for the company. in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $5.29.
Shares of Achillion Pharmaceuticals (ACHN) opened at $3.69 on Monday. Achillion Pharmaceuticals has a 12-month low of $3.15 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, beating the consensus estimate of ($0.18) by $0.04. During the same period in the previous year, the company earned ($0.15) earnings per share. equities analysts predict that Achillion Pharmaceuticals will post -0.63 EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Achillion Pharmaceuticals by 51.1% in the first quarter. Dimensional Fund Advisors LP now owns 613,006 shares of the biopharmaceutical company’s stock worth $2,581,000 after buying an additional 207,204 shares during the period. Deschutes Portfolio Strategy LLC lifted its stake in shares of Achillion Pharmaceuticals by 358.6% in the second quarter. Deschutes Portfolio Strategy LLC now owns 116,630 shares of the biopharmaceutical company’s stock worth $535,000 after acquiring an additional 91,200 shares in the last quarter. Senzar Asset Management LLC acquired a new position in shares of Achillion Pharmaceuticals in the second quarter worth about $4,966,000. Highbridge Capital Management LLC acquired a new position in shares of Achillion Pharmaceuticals in the first quarter worth about $149,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Achillion Pharmaceuticals by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 611,634 shares of the biopharmaceutical company’s stock worth $2,808,000 after acquiring an additional 62,515 shares in the last quarter. 74.81% of the stock is owned by 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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