Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) Rating Lowered to Hold at BidaskClub

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, July 12th.

Other research analysts also recently issued reports about the company. Maxim Group dropped their price target on Achillion Pharmaceuticals from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, April 25th. Jefferies Group LLC restated a “hold” rating on shares of Achillion Pharmaceuticals in a report on Wednesday, April 26th. Leerink Swann upgraded Achillion Pharmaceuticals from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $4.00 to $6.00 in a research note on Thursday, May 18th. Robert W. Baird increased their target price on Achillion Pharmaceuticals from $5.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, April 24th. Finally, Zacks Investment Research downgraded Achillion Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $8.25.

Shares of Achillion Pharmaceuticals (ACHN) traded up 5.982% during trading on Wednesday, reaching $4.695. 1,794,270 shares of the company traded hands. The company has a 50 day moving average price of $4.39 and a 200 day moving average price of $4.13. The firm’s market capitalization is $642.09 million. Achillion Pharmaceuticals has a 12-month low of $3.15 and a 12-month high of $9.49.

Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.16) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.16). During the same period in the prior year, the company earned ($0.14) EPS. On average, equities analysts predict that Achillion Pharmaceuticals will post ($0.63) EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in Achillion Pharmaceuticals by 40.1% in the fourth quarter. State Street Corp now owns 5,121,160 shares of the biopharmaceutical company’s stock worth $21,153,000 after buying an additional 1,465,723 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Achillion Pharmaceuticals by 204.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,868,968 shares of the biopharmaceutical company’s stock valued at $8,579,000 after buying an additional 1,255,962 shares in the last quarter. Norges Bank purchased a new stake in Achillion Pharmaceuticals during the fourth quarter valued at about $4,623,000. Senzar Asset Management LLC purchased a new stake in Achillion Pharmaceuticals during the second quarter valued at about $4,966,000. Finally, Vanguard Group Inc. increased its stake in Achillion Pharmaceuticals by 7.2% in the first quarter. Vanguard Group Inc. now owns 9,585,823 shares of the biopharmaceutical company’s stock valued at $40,357,000 after buying an additional 646,415 shares in the last quarter. 70.83% of the stock is currently owned by institutional investors.

About Achillion Pharmaceuticals

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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