Achillion Pharmaceuticals, Inc. (ACHN) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) from a buy rating to a hold rating in a report published on Wednesday.
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.”
A number of other brokerages also recently commented on ACHN. BidaskClub upgraded Achillion Pharmaceuticals from a strong sell rating to a sell rating in a research note on Wednesday, August 16th. Robert W. Baird downgraded Achillion Pharmaceuticals from an outperform rating to a neutral rating and set a $5.00 target price on the stock. in a research note on Thursday, August 10th. Maxim Group set a $7.00 target price on Achillion Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, August 9th. Chardan Capital lowered their target price on Achillion Pharmaceuticals from $5.00 to $4.00 and set a neutral rating on the stock in a research note on Wednesday, August 9th. Finally, Ladenburg Thalmann Financial Services lowered their target price on Achillion Pharmaceuticals from $9.00 to $6.50 and set a buy rating on the stock in a research note on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $5.33.
Achillion Pharmaceuticals (NASDAQ ACHN) traded up $0.04 during trading hours on Wednesday, reaching $3.89. The company had a trading volume of 502,100 shares, compared to its average volume of 1,355,613. Achillion Pharmaceuticals has a 52-week low of $3.15 and a 52-week high of $5.66.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its earnings results on Wednesday, November 1st. The biopharmaceutical company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. During the same period in the previous year, the company posted ($0.15) earnings per share. equities analysts predict that Achillion Pharmaceuticals will post -0.63 EPS for the current fiscal year.
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A number of large investors have recently made changes to their positions in the stock. Sphera Funds Management LTD. bought a new stake in Achillion Pharmaceuticals during the 3rd quarter valued at approximately $1,347,000. Artal Group S.A. bought a new stake in Achillion Pharmaceuticals during the 3rd quarter valued at approximately $4,490,000. SG Americas Securities LLC boosted its stake in Achillion Pharmaceuticals by 59.8% during the 3rd quarter. SG Americas Securities LLC now owns 42,229 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 15,800 shares during the period. Candriam Luxembourg S.C.A. bought a new stake in Achillion Pharmaceuticals during the 3rd quarter valued at approximately $1,976,000. Finally, Shell Asset Management Co. bought a new stake in Achillion Pharmaceuticals during the 3rd quarter valued at approximately $902,000. Hedge funds and other institutional investors own 74.62% of the company’s stock.
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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