Piper Jaffray Call Achillion (ACHN) a M&A Play Following Roche Buyout of Anadys

An analyst at Piper Jaffray, Edward Tenthoff, notes Achillion Pharmaceuticals (Nasdaq: ACHN) may be a M&A play following Roche's purchase of Anadys (Nasdaq: ANDS) for $3.70 per share.

The company currently owns 100 percent of its early hepatitis C pipeline which includes two protease and 2 NS5A inhibitors. The firm believes the hepatitis C market will continue to consolidate given multiple larger HCV companies who need more drugs for quad combo or all oral triple regimens.

Mr. Tenthoff is reaffirming its Overweight rating and $12 price target on shares of ACHN.

Share of ACHN are trading up 1.03 percent on the day, but are up over 17 percent since opening on October 14.

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