Wells Fargo Maintains an 'Outperform' on Achillion Pharmaceuticals (ACHN); A Few Hiccups, But Expect Positive N-T Data
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Price: $0.79 --0%
Rating Summary:
11 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo maintains an 'Outperform' on Achillion Pharmaceuticals (NASDAQ: ACHN) price target range $11-13 from $14-16.
Analyst, Brian Abrahams, said, "We expect near-term data for '1625, '2684 and '3102 to confirm the promise of ACHN's HCV portfolio and drive potential upside...However, EASL also made apparent several potential negatives: the “sheen” on ‘1625’s previously-untarnished safety and efficacy profile having been lost a bit, the increasing reliance ACHN has on a preclinical asset (‘3102) for an in-house alloral combo, and the rapidly-moving developmental space theoretically narrowing where ‘1625 could fit strategically. We are reducing our valuation range and could see shares trade rangebound near-term; nonetheless, we remain positive on ACHN shares longer-term, as we believe the differentiating features of ‘1625 and the rest of ACHN’s portfolio could still make them coveted parts of future HCV regimens. Lowering 2013E EPS to -$0.52 from -$0.45."
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 $8.28 yesterday.
Analyst, Brian Abrahams, said, "We expect near-term data for '1625, '2684 and '3102 to confirm the promise of ACHN's HCV portfolio and drive potential upside...However, EASL also made apparent several potential negatives: the “sheen” on ‘1625’s previously-untarnished safety and efficacy profile having been lost a bit, the increasing reliance ACHN has on a preclinical asset (‘3102) for an in-house alloral combo, and the rapidly-moving developmental space theoretically narrowing where ‘1625 could fit strategically. We are reducing our valuation range and could see shares trade rangebound near-term; nonetheless, we remain positive on ACHN shares longer-term, as we believe the differentiating features of ‘1625 and the rest of ACHN’s portfolio could still make them coveted parts of future HCV regimens. Lowering 2013E EPS to -$0.52 from -$0.45."
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 $8.28 yesterday.
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