Trade Report: The Achillion Pharmaceuticals Inc. (ACHN) Stake Decreased by JPMorgan Chase & Co.

The Achillion Pharmaceuticals Inc. (ACHN) Stake Decreased by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) by 30.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 734,239 shares of the biopharmaceutical company’s stock after selling 328,516 shares during the period. JPMorgan Chase & Co. owned 0.54% of Achillion Pharmaceuticals worth $5,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ACHN. Bellevue Group AG purchased a new stake in Achillion Pharmaceuticals during the first quarter valued at $3,242,000. Emerald Acquisition Ltd. purchased a new stake in Achillion Pharmaceuticals during the second quarter valued at $1,393,000. Spark Investment Management LLC purchased a new stake in Achillion Pharmaceuticals during the first quarter valued at $891,000. BlackRock Fund Advisors boosted its stake in Achillion Pharmaceuticals by 2.3% in the first quarter. BlackRock Fund Advisors now owns 4,573,313 shares of the biopharmaceutical company’s stock valued at $35,306,000 after buying an additional 102,179 shares during the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in Achillion Pharmaceuticals during the second quarter valued at $763,000. 79.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) traded down 1.06% during trading on Wednesday, reaching $7.45. 309,941 shares of the company were exchanged. The company’s 50-day moving average is $8.18 and its 200 day moving average is $8.48. Achillion Pharmaceuticals Inc. has a 1-year low of $5.57 and a 1-year high of $10.95. The firm has a market capitalization of $1.02 billion, a PE ratio of 152.04 and a beta of 2.10.

Achillion Pharmaceuticals (NASDAQ:ACHN) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.01. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. Equities research analysts expect that Achillion Pharmaceuticals Inc. will post ($0.61) EPS for the current fiscal year.

Several research firms have weighed in on ACHN. Zacks Investment Research cut Achillion Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 7th. Jefferies Group reaffirmed a “hold” rating on shares of Achillion Pharmaceuticals in a research report on Monday, September 26th. Chardan Capital lifted 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. Wedbush began coverage on Achillion Pharmaceuticals in a research report on Thursday, September 22nd. They set an “outperform” rating and a $13.00 price objective on the stock. Finally, FBR & Co assumed 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $10.73.

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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