Baird Starts Achillion Pharmaceuticals (ACHN) at Outperform; Pure Play in a HCV Sweet Spot

Baird initiates coverage on Achillion Pharmaceuticals (NASDAQ: ACHN) with a Outperform. PT $9.00.

Baird analyst says, "ACHN can compete in multiple evolutions of the HCV space, with competitive second- and third-generation Protease Inhibitors and the ability to do combos both within and beyond its own pipeline. Our conviction would increase with a full duration of safety (late-11; meantime no news is good news) to go along with ACH-1625’s four weeks of strong efficacy data, and we’d look to increase positions further at that point. We believe the earlier-stage pipeline offers potentially valuable call options."

For more ratings news on Achillion Pharmaceuticals click here and for the rating history of Achillion Pharmaceuticals click here.

Shares of Achillion Pharmaceuticals closed at $5.56 yesterday.

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