Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Friday.
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.”
A number of other brokerages have also commented on ACHN. Chardan Capital boosted their price objective on Achillion Pharmaceuticals from $4.00 to $5.00 and gave the company a “sell” rating in a research report on Friday, September 23rd. FBR & Co initiated coverage on Achillion Pharmaceuticals in a research report on Thursday, September 15th. They set an “outperform” rating and a $16.00 price objective on the stock. Leerink Swann restated a “hold” rating on shares of Achillion Pharmaceuticals in a research report on Sunday, June 12th. JMP Securities upgraded Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $13.00 price objective on the stock in a research report on Thursday, July 7th. Finally, Jefferies Group restated a “hold” rating on shares of Achillion Pharmaceuticals in a research report on Monday, September 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Achillion Pharmaceuticals has an average rating of “Hold” and an average price target of $10.73.
Achillion Pharmaceuticals (NASDAQ:ACHN) traded down 1.91% during mid-day trading on Friday, hitting $7.72. 436,145 shares of the stock were exchanged. Achillion Pharmaceuticals has a 52-week low of $5.57 and a 52-week high of $10.95. The company has a 50 day moving average price of $8.28 and a 200 day moving average price of $8.46. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 157.55 and a beta of 2.10.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. During the same period last year, the business earned ($0.25) EPS. On average, analysts anticipate that Achillion Pharmaceuticals will post ($0.61) EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. Bourgeon Capital Management LLC boosted its stake in shares of Achillion Pharmaceuticals by 41.9% in the second quarter. Bourgeon Capital Management LLC now owns 30,500 shares of the biopharmaceutical company’s stock valued at $238,000 after buying an additional 9,000 shares during the last quarter. Columbus Circle Investors boosted its stake in shares of Achillion Pharmaceuticals by 46.0% in the second quarter. Columbus Circle Investors now owns 110,174 shares of the biopharmaceutical company’s stock valued at $859,000 after buying an additional 34,720 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Achillion Pharmaceuticals by 24.9% in the second quarter. Alps Advisors Inc. now owns 191,953 shares of the biopharmaceutical company’s stock valued at $1,497,000 after buying an additional 38,285 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Achillion Pharmaceuticals by 7.2% in the second quarter. American Century Companies Inc. now owns 870,293 shares of the biopharmaceutical company’s stock valued at $6,788,000 after buying an additional 58,521 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Achillion Pharmaceuticals during the second quarter valued at approximately $105,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.
About Achillion Pharmaceuticals
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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