Buy Achillion Pharmaceuticals (ACHN) on Sell-Off - Baird

November 3, 2016 11:53 AM EDT
Get Alerts ACHN Hot Sheet
Price: $4.06 -0.73%

Rating Summary:
    14 Buy, 3 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 29 | New: 23
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Baird analyst Brian Skorney is telling clients to buy Achillion Pharmaceuticals (NASDAQ: ACHN) on today's sell-off. The firm reiterated an Outperform rating and price target of $10.

Skorney commented, "The market for biotech has completely broken down and with it, Achillion's nominally bad news on the Factor D program (which we are not currently modeling) has cut it down by almost a third today. With $3/share in cash and a J&J deal with milestones exceeding $5/share -- not counting double digit royalties -- we don't really care if Factor D is dead or not."

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 $6.04 yesterday.

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