UPDATE - UBS Initiates Coverage on Achillion Pharma (ACHN) with a Neutral; All-Oral Combo Already Priced In

UPDATE - UBS initiates coverage on Achillion Pharma (Nasdaq: ACHN) with a Neutral. PT $11.

Analyst, Matthew Harrison, said, "ACHN is developing antivirals for Hepatitis C (HCV). We believe the current valuation implies ~15% global market share for Achillion’s potential all-oral combination. Therefore, the stock already implies sig. good news while we remain cautious on safety, resistance profile, and ultimate SVR. Thus, we see limited upside in the stock. Further, while the stock has run on M&A speculation and we see some strategic value in Achillion’s PI, we think a near-term deal is unlikely."

To see more ratings on ACHN, Click Here

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