Wedbush Starts Achillion Pharmaceuticals (ACHN) at Outperform

September 23, 2016 6:43 AM EDT
Get Alerts ACHN Hot Sheet
Price: $6.99 -0.29%

Rating Summary:
    14 Buy, 2 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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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."

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 $8.44 yesterday.

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