Zacks Investment Research downgraded shares of Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) from a strong-buy rating to a hold rating in a research report released on Friday morning.
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 research firms also recently weighed in on ACHN. Leerink Swann reissued a hold rating on shares of Achillion Pharmaceuticals in a research report on Sunday, June 12th. Jefferies Group reissued a hold rating on shares of Achillion Pharmaceuticals in a research report on Tuesday, August 9th. Chardan Capital assumed coverage on shares of Achillion Pharmaceuticals in a research report on Thursday, July 14th. They set a sell rating and a $4.00 target price for the company. Wedbush assumed coverage on shares of Achillion Pharmaceuticals in a research report on Thursday, September 22nd. They set an outperform rating and a $13.00 target price for the company. Finally, JMP Securities raised shares of Achillion Pharmaceuticals from a market perform rating to an outperform rating and set a $13.00 target price for the company in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $10.73.
Shares of Achillion Pharmaceuticals (NASDAQ:ACHN) opened at 7.14 on Friday. The company has a market cap of $975.90 million, a PE ratio of 145.71 and a beta of 2.10. The stock’s 50 day moving average price is $8.12 and its 200-day moving average price is $8.47. Achillion Pharmaceuticals has a one year low of $5.57 and a one year high of $10.95.
Achillion Pharmaceuticals (NASDAQ:ACHN) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01. During the same quarter in the prior year, the company earned ($0.25) EPS. On average, analysts expect that Achillion Pharmaceuticals will post ($0.61) EPS for the current year.
A number of hedge funds have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC purchased a new stake in Achillion Pharmaceuticals during the first quarter valued at about $101,000. Fox Run Management L.L.C. purchased a new stake in Achillion Pharmaceuticals during the second quarter valued at about $105,000. Investment Centers of America Inc. boosted its stake in Achillion Pharmaceuticals by 27.7% in the second quarter. Investment Centers of America Inc. now owns 13,733 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 2,975 shares in the last quarter. Princeton Alpha Management LP purchased a new stake in Achillion Pharmaceuticals during the second quarter valued at about $109,000. Finally, Teacher Retirement System of Texas boosted its stake in Achillion Pharmaceuticals by 13.0% in the second quarter. Teacher Retirement System of Texas now owns 15,173 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 1,749 shares in the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.
Achillion Pharmaceuticals Company Profile
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.