Achillion Pharmaceuticals (ACHN) Weakness is a Buying Chance - Analyst

November 12, 2012 12:00 PM EST Send to a Friend
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Price: $12.80 +0.31%

Rating Summary:
    13 Buy, 2 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 12 | New: 23
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Shares of Achillion Pharmaceuticals (NASDAQ: ACHN) are down over 11 percent Monday on the back of strong all-oral HCV data from competitors, perhaps
misinterpretation of Abott's (NYSE: ABT) AVIATOR phase IIb data as they may apply to the company, and possibly inappropriate focus on additional data reported for ACH2684, according to analysts at Wells Fargo. The weakness provides a buying opportunity, the firm said.

"Although competition in this therapeutic space is clearly fierce, we believe ABT's AVIATOR data speak to the potential for a PI+NS5A regimen to produce high cure rates, and SVR's with ACHN's ACH1625 + ACH3102 could ultimately look as
good and perhaps better (even eliminating the few observed breakthroughs in AVIATOR) given ACH3102' s higher barrier to resistance," Wells Fargo analyst Brian Abrahams, M.D. stated. "Barring any unexpected toxicity signals emerging we believe ACHN would be well-positioned to participate in this multi-billion dollar market."

Abrahams said the market is not fully recognizing the reward/risk of Achillion's s all-oral HCV portfolio and suggests today's weakness provides an attractive entry point in a company they expect to be a player longer-term in HCV.

For an analyst ratings summary and ratings history on Achillion Pharmaceuticals click here. For more ratings news on Achillion Pharmaceuticals click here.

Shares of Achillion Pharmaceuticals closed at $9.01 yesterday.


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