Brean Murray Carret & Co. Out In Defense of Achillion Pharmaceuticals (ACHN); Superficial Read-Through

Brean Murray Carret & Co. maintains a 'Achillion' on Pharmaceuticals (NASDAQ: ACHN) price target of $20.00.

Analyst, "We believe the sharp decline ACHN shares is being driven from superficial read-through from the Gilead (Nasdaq: GILD / Bristol-Myers (NYSE: BMY) data. We believe that a protease inhibitor is not a necessary component of an all-oral regimen. However, we believe that the valuation assumes that a protease inhibitor is also not sufficient in an oral combination that does not include a nuc. Abbott (NYSE: ABT)(Hold) has already demostrated that a potent PI with a differentiated resistance profile can be an achor for an all-oral regimen. We believe the upcoming oral presentations of Abbott's PILOT (today) and COPILOT (Saturday) studies will reaffirms this thesis."

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 $9.50 yesterday.

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