Shares of Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) dropped 1.9% on Friday . The company traded as low as $8.56 and last traded at $8.60, with a volume of 959,346 shares trading hands. The stock had previously closed at $8.77.

ACHN has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Achillion Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Tuesday, April 26th. Leerink Swann restated a “market perform” rating and issued a $9.00 target price (up previously from $7.00) on shares of Achillion Pharmaceuticals in a research report on Wednesday, May 4th. Jefferies Group restated a “hold” rating on shares of Achillion Pharmaceuticals in a research report on Thursday, May 5th. Robert W. Baird restated an “outperform” rating and issued a $10.00 target price on shares of Achillion Pharmaceuticals in a research report on Monday, June 6th. Finally, JMP Securities raised shares of Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $13.00 price target for the company in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $9.63.

The firm has a 50-day moving average price of $8.75 and a 200 day moving average price of $8.03. The stock’s market capitalization is $1.18 billion.

Achillion Pharmaceuticals (NASDAQ:ACHN) last posted its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.01. During the same quarter in the prior year, the business posted ($0.17) EPS. On average, analysts expect that Achillion Pharmaceuticals Inc. will post ($0.64) EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC raised its stake in Achillion Pharmaceuticals by 10.1% in the fourth quarter. ProShare Advisors LLC now owns 126,923 shares of the biopharmaceutical company’s stock worth $1,370,000 after buying an additional 11,681 shares during the period. Swiss National Bank boosted its position in Achillion Pharmaceuticals by 6.8% in the fourth quarter. Swiss National Bank now owns 152,400 shares of the biopharmaceutical company’s stock worth $1,644,000 after buying an additional 9,700 shares in the last quarter. Marshall Wace LLP boosted its position in Achillion Pharmaceuticals by 36.8% in the fourth quarter. Marshall Wace LLP now owns 970,862 shares of the biopharmaceutical company’s stock worth $10,476,000 after buying an additional 261,007 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Achillion Pharmaceuticals by 14.0% in the fourth quarter. Rhumbline Advisers now owns 117,525 shares of the biopharmaceutical company’s stock worth $1,268,000 after buying an additional 14,425 shares in the last quarter.

Achillion Pharmaceuticals, Inc is a biopharmaceutical company. The Company’s primary business is to discover, develop and commercialize small molecule therapeutics for the treatment of 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 complement system.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.