Wells Fargo Starts Achillion Pharmaceuticals (ACHN) at Outperform; PI '1625, Though Early, has Best-in-Class Potential

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ACHN Hot Sheet

Rating Summary:
10 Buy, 2 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23

Wells Fargo initiates coverage on Achillion Pharmaceuticals (NASDAQ: ACHN) with an Outperform. PT range $8-$10.

Wells analyst says, "In our view, ACHN has one of the most interesting early-stage hepatitis C (HCV) pipelines. Several HCV companies have appreciated recently on growing enthusiasm for direct-acting antiviral (DAA) combinations, but we believe ACHN has remained somewhat below the radar. We expect this to change soon, as additional phase II data for protease inhibitor (PI) ACH-1625 and proof-of-concept data for pangenotypic PI ACH-2684 and NS5A inhibitor ACH-2928 potentially confirm the promise of their portfolio and drive share appreciation. We believe there will remain a significant long-term opportunity in HCV despite the promise of emerging drugs in the nucleoside (nuc) class, especially for PIs overcoming other agents' limitations and NS5A inhibitors with broader potency."

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 $5.60 yesterday, with a 52 week range of $2.60-$8.95.

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