Achillion Pharmaceuticals, Inc. (ACHN) Stock Rating Lowered by Zacks Investment Research
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
According to Zacks, “Achillion generated no revenue in Q2 while loss was in line with estimates. The company has no approved product in its portfolio and focuses on developing small molecule therapeutics to treat infectious and complement-mediated diseases. The complement-mediated space is highly crowded as biotech companies are working on bringing these treatments to market. However this area has potential for commercial opportunity. Meanwhile, Achillion’s deal with J&J for its HCV portfolio provides the company with a strong and experienced partner and will also bring in funds. The HCV market also represents huge commercial potential. However, Merck is also developing similar therapy for HCV genotype infections. Also, we remain concerned about the early-stage nature of the complement Factor D pipeline and dependence on collaboration for funds.”
Several other equities research analysts also recently issued reports on the company. Robert W. Baird increased their price target on Achillion Pharmaceuticals from $5.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, April 24th. Leerink Swann upgraded Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $4.00 to $6.00 in a report on Thursday, May 18th. BidaskClub downgraded Achillion Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Jefferies Group LLC restated a “hold” rating on shares of Achillion Pharmaceuticals in a report on Wednesday, April 26th. Finally, Maxim Group reduced their price objective on Achillion Pharmaceuticals from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Tuesday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $8.25.
Achillion Pharmaceuticals (ACHN) traded up 1.13% during mid-day trading on Friday, reaching $4.48. 652,371 shares of the company were exchanged. The stock’s 50-day moving average is $4.37 and its 200-day moving average is $4.12. Achillion Pharmaceuticals has a 12 month low of $3.15 and a 12 month high of $9.49. The company’s market cap is $612.69 million.
Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). During the same period in the prior year, the company earned ($0.14) earnings per share. Equities analysts expect that Achillion Pharmaceuticals will post ($0.63) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Achillion Pharmaceuticals during the fourth quarter valued at $4,623,000. Vanguard Group Inc. boosted its position in shares of Achillion Pharmaceuticals by 7.2% in the first quarter. Vanguard Group Inc. now owns 9,585,823 shares of the biopharmaceutical company’s stock valued at $40,357,000 after buying an additional 646,415 shares during the period. Eventide Asset Management LLC bought a new position in shares of Achillion Pharmaceuticals during the first quarter valued at approximately $2,526,000. HealthInvest Partners AB bought a new position in shares of Achillion Pharmaceuticals during the first quarter valued at approximately $2,096,000. Finally, Stifel Financial Corp bought a new position in shares of Achillion Pharmaceuticals during the first quarter valued at approximately $1,744,000. 70.83% 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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