Achillion Pharmaceuticals Inc. (ACHN) Downgraded to Hold at Zacks Investment Research
According to Zacks, “Achillion a development-stage company is focused on the development of potent and specific complement factor D inhibitors for rare and other diseases. The complement-mediated disease area has significant commercial opportunity and represents upside potential for the company. Meanwhile, the deal with J&J for its HCV portfolio provides Achillion with a strong and experienced partner and will also bring in funds. It also allows the company to focus on its complement Factor D pipeline. However, we remain concerned about the early-stage nature of the complement Factor D pipeline. Moreover, competition in the HCV market continues to increase. Estimates have been mixed lately ahead of the company’s Q3 earnings release. The company has a positive record of earnings surprises in recent quarters.”
ACHN has been the topic of several other reports. Wedbush initiated coverage on Achillion Pharmaceuticals in a research note on Thursday, September 22nd. They issued an outperform rating and a $13.00 target price on the stock. Chardan Capital assumed coverage on shares of Achillion Pharmaceuticals in a report on Thursday, July 14th. They issued a sell rating and a $4.00 price objective for the company. FBR & Co assumed coverage on shares of Achillion Pharmaceuticals in a report on Thursday, September 15th. They issued an outperform rating and a $16.00 price objective for the company. JMP Securities upgraded shares of Achillion Pharmaceuticals from a market perform rating to an outperform rating and set a $13.00 price objective for the company in a report on Thursday, July 7th. Finally, Jefferies Group restated a hold rating on shares of Achillion Pharmaceuticals in a report on Monday, September 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $10.73.
Achillion Pharmaceuticals (NASDAQ:ACHN) traded up 1.41% during trading on Friday, hitting $7.90. The stock had a trading volume of 367,184 shares. The stock’s 50-day moving average price is $8.25 and its 200-day moving average price is $8.46. Achillion Pharmaceuticals has a 1-year low of $5.57 and a 1-year high of $10.95. The company has a market capitalization of $1.08 billion, a P/E ratio of 161.22 and a beta of 2.10.
Achillion Pharmaceuticals (NASDAQ:ACHN) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. During the same period in the prior year, the firm earned ($0.25) earnings per share. Analysts expect that Achillion Pharmaceuticals will post ($0.61) earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in ACHN. Schonfeld Strategic Advisors LLC purchased a new position in shares of Achillion Pharmaceuticals during the first quarter worth $101,000. Fox Run Management L.L.C. purchased a new position in shares of Achillion Pharmaceuticals during the second quarter worth $105,000. Investment Centers of America Inc. raised its position in shares of Achillion Pharmaceuticals by 27.7% in the second quarter. Investment Centers of America Inc. now owns 13,733 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 2,975 shares during the last quarter. Princeton Alpha Management LP purchased a new position in shares of Achillion Pharmaceuticals during the second quarter worth $109,000. Finally, Teacher Retirement System of Texas raised its position in shares of Achillion Pharmaceuticals by 13.0% in the second quarter. Teacher Retirement System of Texas now owns 15,173 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 1,749 shares during the last quarter. Institutional investors own 79.43% of the company’s stock.
Achillion Pharmaceuticals Company Profile
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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