Achillion Pharmaceuticals (NASDAQ:ACHN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Achillion has no approved products in its portfolio, and focuses on developing small molecule therapeutics to treat infectious and complement-mediated diseases. The lead candidate, ACH-4471, has shown clinically meaningful complement inhibition of factor D in PNH patients. Meanwhile, two factor D inhibitor candidates were advanced to phase I study in 2018. 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 for Achillion, J&J terminated its HCV agreement in 2017 and Achillion lost a strong and experienced partner and major source of funds. Meanwhile, its shares have underperformed the industry in the past year. Loss estimates have remained stable ahead of Q4 earnings. Achillion has a mixed record of earnings surprises in the recent quarters.”
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A number of other equities analysts have also weighed in on the company. ValuEngine lowered Achillion Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. BidaskClub upgraded Achillion Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, January 11th.
Shares of NASDAQ ACHN remained flat at $$2.36 during trading on Thursday. The company’s stock had a trading volume of 252,550 shares, compared to its average volume of 2,249,333. The stock has a market cap of $327.13 million, a price-to-earnings ratio of -3.81 and a beta of 2.39. Achillion Pharmaceuticals has a twelve month low of $1.29 and a twelve month high of $4.34.
Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of Achillion Pharmaceuticals in the 4th quarter valued at about $41,000. Meeder Asset Management Inc. increased its stake in shares of Achillion Pharmaceuticals by 107.3% in the 4th quarter. Meeder Asset Management Inc. now owns 26,476 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 13,706 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Achillion Pharmaceuticals in the 4th quarter valued at about $73,000. Raymond James & Associates increased its stake in shares of Achillion Pharmaceuticals by 11.6% in the 4th quarter. Raymond James & Associates now owns 71,450 shares of the biopharmaceutical company’s stock valued at $114,000 after purchasing an additional 7,400 shares in the last quarter. Finally, Logan Capital Management Inc. purchased a new position in shares of Achillion Pharmaceuticals in the 3rd quarter valued at about $166,000. Hedge funds and other institutional investors own 76.04% of the company’s stock.
About Achillion Pharmaceuticals
Achillion Pharmaceuticals, Inc, a biopharmaceutical company, discovers, develops, and commercializes small molecule drug therapies for immune system disorders in the United States. Its lead drug candidate includes ACH-4471, an inhibitor of factor D that is Phase II clinical trials for patients with paroxysmal nocturnal hemoglobinuria and C3 glomerulopathy.
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