Deutsche Bank Lifts Target on Achillion Pharmaceuticals (ACHN), Sees 60% Upside

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Deutsche Bank boosted its price target on Buy-rated Achillion Pharmaceuticals (NASDAQ: ACHN) price target from $12 to $17, suggesting 60% upside to yesterday's close. The firm cited an increasing our probability of success.

"We are increasing our probability of success to 60% (from 50%) after events that provide read through to future success of ACHN 2 drug combo regimens," the analyst said. "We maintain our 15% peak share & $2.7B unadjusted peak sales. Buy. ABT's regimen has 5 drugs in combo: HIV booster/PI/NS5A/non-nuke/Riba. BMY’s regimen has 3 drugs: PI/NS5A/nonnuke. ACHN's PI is un-boosted & NS5A has better resistance in GT1A."

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 $10.64 yesterday, with a 52 week range of $5.12-$12.95.

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