Baird Starts Achillion Pharmaceuticals (ACHN) at Outperform

After the close, Baird resumed coverage on Achillion Pharmaceuticals (NASDAQ: ACHN) with an Outperform rating and $17 price target.

The firm cited the company's potential to create a short-duration, once-daily cure for Hepatitis C using the two wholly owned antivirals, sovaprevir and ACH-3102.

"We believe Achillion is second only to Gilead in terms of a safe/effective and marketable treatment regimen for Hepatitis C and a substantial amount of clinical data should reinforce this thesis over the next year driving valuation materially higher," analyst Brian P. Skorney said.

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 $8.64 yesterday.

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