Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm presently has a $4.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.18% from the company’s previous close.
According to Zacks, “Achillion generated no revenue in Q3 while loss was narrower than the estimates. The company has no approved product in its portfolio and focuses on developing small molecule therapeutics to treat infectious and complement-mediated diseases. Meanwhile, the company has shown progress in developing Factor D inhibitors. The lead candidate, ACH-4471 has shown clinically meaningful complement inhibition of factor D in PNH patients. Meanwhile, another factor D inhibitor candidate will be advanced to phase I study this year. Though this area has commercial opportunity the complement-mediated space is highly crowded as many biotech companies are working on bringing these treatments to market. In a major setback, J&J terminated its HCV agreement in September and Achillion lost a strong and experienced partner and source of funds. Meanwhile, shares have underperformed the industry so far this year.”
ACHN has been the topic of a number of other research reports. Maxim Group set a $7.00 price objective on shares of Achillion Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, August 9th. BidaskClub raised shares of Achillion Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 16th. ValuEngine downgraded shares of Achillion Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Monday, September 11th. Robert W. Baird downgraded shares of Achillion Pharmaceuticals from an “outperform” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a report on Thursday, August 10th. Finally, Chardan Capital reaffirmed a “neutral” rating on shares of Achillion Pharmaceuticals in a report on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.29.
Shares of Achillion Pharmaceuticals (ACHN) opened at $3.69 on Monday. Achillion Pharmaceuticals has a fifty-two week low of $3.15 and a fifty-two week high of $5.66.
Achillion Pharmaceuticals (NASDAQ:ACHN) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. During the same quarter in the previous year, the company posted ($0.15) EPS. equities research analysts anticipate that Achillion Pharmaceuticals will post -0.63 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Achillion Pharmaceuticals by 51.1% in the first quarter. Dimensional Fund Advisors LP now owns 613,006 shares of the biopharmaceutical company’s stock valued at $2,581,000 after purchasing an additional 207,204 shares in the last quarter. Deschutes Portfolio Strategy LLC raised its position in shares of Achillion Pharmaceuticals by 358.6% in the second quarter. Deschutes Portfolio Strategy LLC now owns 116,630 shares of the biopharmaceutical company’s stock valued at $535,000 after buying an additional 91,200 shares during the last quarter. Senzar Asset Management LLC acquired a new position in shares of Achillion Pharmaceuticals in the second quarter valued at approximately $4,966,000. Bank of New York Mellon Corp raised its position in shares of Achillion Pharmaceuticals by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 611,634 shares of the biopharmaceutical company’s stock valued at $2,808,000 after buying an additional 62,515 shares during the last quarter. Finally, Credit Suisse AG raised its position in shares of Achillion Pharmaceuticals by 106.0% in the first quarter. Credit Suisse AG now owns 237,819 shares of the biopharmaceutical company’s stock valued at $1,002,000 after buying an additional 122,361 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors.
Achillion Pharmaceuticals Company Profile
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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