Wedbush Starts Achillion Pharmaceuticals (ACHN) at Outperform
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Wedbush initiates coverage on Achillion Pharmaceuticals (NASDAQ: ACHN) with a Outperform rating and a price target of $13.00.
Analyst Heather Behanna commented, "Achillion is blazing a trail with an oral factor D inhibitor, ACH- 4471. In our view, ex-vivo biomarker data support the compound’s efficacy; we believe its differentiated mechanism of action may carve a niche into a potentially competitive PNH market and put Achillion at the forefront in other areas, such as rare renal diseases. We believe clinical data over the next 12 months should derisk ACH-4471 and be a catalyst for shares."
Shares of Achillion Pharmaceuticals closed at $8.44 yesterday.
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