JMP Securities Upgrades Achillion Pharmaceuticals (ACHN) to Market Outperform

UPDATE: UBS Upgrades Achillion Pharmaceuticals (ACHN) to Buy

(Updated - June 12, 2014 9:03 AM EDT)

UBS upgraded Achillion Pharmaceuticals (NASDAQ: ACHN) from Neutral to Buy with a price target of $11.

Analyst Andrew Peters said, "The recent acquisition of Idenix by Merck has shifted our view on what is needed to de-risk assets in HCV and now see the upcoming 7-day read-out as a key... More

Baird Upgrades Achillion Pharmaceuticals (ACHN) to Outperform

Baird upgraded Achillion Pharmaceuticals (Nasdaq: ACHN) from Neutral to Outperform and moves its price target from $14 to $12 ahead of MRK/IDIX merger docs.

Analyst Brian Skorney said, "Following the surprise news Monday of Merck's $3.85 billion acquisition of Idenix, we believe the valuation gap between the IDIX purchase price and ACHN's market price isn't justified based on the state of the company's respective assets. We like the risk/reward into two near-term catalysts that we believe could drive shares substantially higher, even with the recent move."

The analyst said preliminary evidence indicates Merck... More

Achillion (ACHN) Price Target Raised to $6 at Deutsche Bank

Deutsche Bank maintained a Hold rating on Achillion Pharmaceuticals (NASDAQ: ACHN) and raised its price target to $6.00 (from $4.00).

"Progress on Nuke front along possibly increased focus from big pharma starts to make this story very interesting in the 2H14. We note that 3 month tox work is already complete for the Nuke. Data... More

Wells Fargo Comments on Achillion (ACHN) After Dosing Begins for ACH3422

Analyst Brian Abrahams of Wells Fargo noted the possibility for additional upside in Achillion Pharmaceuticals (NASDAQ: ACHN) based on HCV assets. This morning Achillion announced dosing of the first HCV patients for ACH3422. Achillion also announced today that the FDA has removed the clinical hold on sovaprevir, an NS3/4A protease inhibitor, to permit the conduct of trials in patients with HCV.

"Though nuc development still has risks and the road ahead... More

Achillion Pharmaceuticals (ACHN) Also an Attractive Acquisition Candidate - Maxim Group

Maxim Group analyst Jason Kolbert weighed in on Achillion Pharmaceuticals (NASDAQ: ACHN) following Merck (NYSE: MRK) plans to acquire Idenix (NYSE: IDIX). He also sees Achillionon as an acquisition candidate in the... More

Achillion Pharmaceuticals (ACHN) Takeover Chatter Grows Louder

Earlier takeover chatter on Achillion Pharmaceuticals (NASDAQ: ACHN), amid the Idenix Pharmaceuticals, Inc. (NASDAQ: IDIX) takeover by Merck (NYSE: MRK) at a hefty premium, is growing louder.

Analysts at Leerink Swann see... More

Achillion Pharma (ACHN) Gains Following Merck/Idenix Offer

Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) stock gained pre-market after Merck (NYSE: MRK) and Idenix Pharmaceuticals, Inc. (NASDAQ: IDIX) announced that the companies have entered into a definitive agreement under which Merck will acquire Idenix for $24.50 per share in cash. The transaction values Idenix at approximately $3.85 billion.