Achillion Pharmaceuticals (ACHN) Sell Rating Reiterated at Chardan Capital Markets Amid ACH-4471 Risks
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Chardan Capital Markets analyst Madhu Kumar reiterated a Sell rating and $5 price target on Achillion Pharmaceuticals (NASDAQ: ACHN) saying ACH-4471 liver signals and developmental delays pose risks.
Kumar commented, "This morning, Achillion Pharmaceuticals (Sell) announced 3Q16 earnings results and updates on clinical programs. Regarding the phase I multiple ascending dose (MAD) trial for ACH-4471, a small molecule inhibitor of complement factor D for the treatment of complement diseases such as paroxysmal nocturnal hemoglobinuria (PNH) and C3 glomerulonephritis (C3G), the company announced "[t]wo cases of self-limited, ALT elevations (Grade 3 and 4) were
observed post-treatment in the mid- and high dose groups, respectively." Achillion further announced that interim results from the
phase I trial will be presented 1H17."
The analyst said Liver enzyme elevations in healthy volunteers create safety risks in an already competitive complement therapy
space. In addition, continued delays in healthy volunteers portend more significant delays in the PNH setting.
Shares of Achillion Pharmaceuticals closed at $6.04 yesterday.
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