Shares of Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) dropped 1.9% during trading 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 recent research reports. Robert W. Baird restated an “outperform” rating and set a $10.00 price target on shares of Achillion Pharmaceuticals in a research note on Monday, June 6th. Chardan Capital initiated coverage on shares of Achillion Pharmaceuticals in a research note on Thursday, July 14th. They issued a “sell” rating and a $4.00 target price on the stock. Zacks Investment Research cut shares of Achillion Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Leerink Swann reiterated a “hold” rating and issued a $9.00 target price on shares of Achillion Pharmaceuticals in a research note on Wednesday, May 25th. Finally, JMP Securities upgraded shares of Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $13.00 target price on the stock in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.63.

The firm’s market cap is $1.18 billion. The company’s 50-day moving average is $8.75 and its 200-day moving average is $8.03.

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

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

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.

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