Baird Downgrades Achillion Pharmaceuticals (ACHN) to Neutral; ACH-3422 Data Raises as Many Questions as Answers

Baird downgraded Achillion Pharmaceuticals (NASDAQ: ACHN) from Outperform to Neutral with a price target of $16.00 (from $12.00) on ambiguous nuc data.

Analyst Brian Skorney commented, "Top-line antiviral data from ACH-3422 falls short of sofosbuvir and most recently reported nuc data. We think speed of viral load reductions delivered by a nuc may play an important role in providing competitive durations and find it hard to recommend buying the current risk/reward. We'll take our gains here and downgrade to Neutral."

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 $15.49 yesterday.

You May Also Be Interested In

• Bristol-Myers Squibb Co. (BMY) PT Lowered to $64 at Truist Securities
• META to capture largest share of users, SNAP to benefit from ad budget shifts - Canaccord Genuity weighs in on TikTok ban
• Jefferies Downgrades Calix (CALX) to Hold