Achillion Pharmaceuticals (ACHN) Sees Large Volume Increase
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) saw unusually-strong trading volume on Wednesday . Approximately 6,645,163 shares changed hands during mid-day trading, an increase of 290% from the previous session’s volume of 1,705,868 shares.The stock last traded at $2.89 and had previously closed at $2.83.
A number of equities analysts recently weighed in on ACHN shares. ValuEngine lowered shares of Achillion Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Monday, September 11th. Zacks Investment Research raised shares of Achillion Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research report on Monday, November 13th. Robert W. Baird reaffirmed a “neutral” rating and issued a $4.00 target price (down previously from $5.00) on shares of Achillion Pharmaceuticals in a research report on Tuesday, September 12th. Chardan Capital reaffirmed a “neutral” rating on shares of Achillion Pharmaceuticals in a research report on Sunday, September 17th. Finally, Ladenburg Thalmann Financial Services cut their price objective on shares of Achillion Pharmaceuticals from $9.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $5.13.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. During the same quarter in the prior year, the company earned ($0.15) earnings per share. sell-side analysts anticipate that Achillion Pharmaceuticals, Inc. will post -0.63 EPS for the current fiscal year.
In other news, major shareholder & Johnson Johnson sold 18,367,346 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $2.75, for a total transaction of $50,510,201.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.24% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ACHN. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Achillion Pharmaceuticals by 3.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 23,130 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 800 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Achillion Pharmaceuticals by 18.6% during the second quarter. SG Americas Securities LLC now owns 26,429 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 4,144 shares during the last quarter. Legal & General Group Plc grew its position in Achillion Pharmaceuticals by 53.8% during the second quarter. Legal & General Group Plc now owns 42,900 shares of the biopharmaceutical company’s stock valued at $196,000 after buying an additional 15,000 shares during the period. Voya Investment Management LLC grew its position in Achillion Pharmaceuticals by 13.7% during the second quarter. Voya Investment Management LLC now owns 55,819 shares of the biopharmaceutical company’s stock valued at $256,000 after buying an additional 6,730 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Achillion Pharmaceuticals by 6.4% in the second quarter. Bank of Montreal Can now owns 56,715 shares of the biopharmaceutical company’s stock valued at $260,000 after purchasing an additional 3,410 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.
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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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