Zacks Investment Research upgraded shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) from a hold rating to a buy rating in a report published on Monday. The brokerage currently has $4.25 price objective 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 research firms also recently weighed in on ACHN. Ladenburg Thalmann Financial Services reduced their target price on Achillion Pharmaceuticals from $9.00 to $6.50 and set a buy rating on the stock in a report on Tuesday, September 12th. Chardan Capital reduced their target price on Achillion Pharmaceuticals from $5.00 to $4.00 and set a neutral rating on the stock in a report on Wednesday, August 9th. Robert W. Baird reiterated a neutral rating and set a $4.00 target price (down previously from $5.00) on shares of Achillion Pharmaceuticals in a report on Tuesday, September 12th. BidaskClub downgraded Achillion Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, July 25th. Finally, ValuEngine downgraded Achillion Pharmaceuticals from a sell rating to a strong sell rating in a report on Monday, September 11th. Two investment 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. The stock has a consensus rating of Hold and a consensus price target of $5.29.
Achillion Pharmaceuticals (NASDAQ ACHN) traded down $0.04 on Monday, reaching $3.85. The company’s stock had a trading volume of 713,000 shares, compared to its average volume of 1,566,058. Achillion Pharmaceuticals has a fifty-two week low of $3.15 and a fifty-two week high of $5.66.
Achillion Pharmaceuticals (NASDAQ:ACHN) last released its quarterly earnings results 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 in the prior year, the business posted ($0.15) EPS. equities research analysts forecast that Achillion Pharmaceuticals will post -0.63 earnings per share for the current fiscal year.
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Several institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its stake 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 worth $106,000 after buying an additional 800 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake 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 worth $2,100,000 after buying an additional 2,850 shares during the last quarter. Bank of Montreal Can grew its stake 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 worth $260,000 after buying an additional 3,410 shares during the last quarter. Wells Fargo & Company MN grew its stake 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 worth $1,009,000 after buying an additional 3,827 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake 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 worth $121,000 after buying an additional 4,144 shares during the last quarter. Institutional investors own 74.81% of the company’s stock.
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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