Zacks Investment Research downgraded shares of Achillion Pharmaceuticals (NASDAQ:ACHN) from a hold rating to a sell rating in a research report released on Monday, Zacks.com reports.

According to Zacks, “Achillion reported wider-than-expected loss in the first quarter. The company has no approved products in its portfolio and focuses on developing small molecule therapeutics to treat infectious and complement-mediated diseases. The lead candidate, ACH-4471, showed clinically meaningful complement inhibition of factor D in PNH patients. Meanwhile, two factor D inhibitor candidates were advanced to phase I study in 2018. Though this area has commercial opportunity, the complement-mediated space is highly crowded as many biotech companies are working on bringing these treatments to market. In a major setback for Achillion, J&J terminated its HCV agreement in 2017 and Achillion lost a strong and experienced partner and major source of funds. Meanwhile, its shares have underperformed the industry in the past year.”

Several other analysts have also recently issued reports on the stock. Barclays cut shares of Achillion Pharmaceuticals from an equal weight rating to an underweight rating and dropped their price objective for the company from $5.00 to $2.50 in a research note on Friday, May 3rd. BidaskClub raised shares of Achillion Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, February 22nd. Finally, William Blair reaffirmed an outperform rating on shares of Achillion Pharmaceuticals in a research note on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Achillion Pharmaceuticals presently has an average rating of Hold and an average price target of $2.50.

Shares of NASDAQ ACHN opened at $2.80 on Monday. Achillion Pharmaceuticals has a 12-month low of $1.29 and a 12-month high of $3.98. The stock has a market cap of $398.14 million, a P/E ratio of -5.49 and a beta of 2.41.

Achillion Pharmaceuticals (NASDAQ:ACHN) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). As a group, equities analysts expect that Achillion Pharmaceuticals will post -0.59 earnings per share for the current year.

A number of large investors have recently bought and sold shares of ACHN. JPMorgan Chase & Co. boosted its holdings in Achillion Pharmaceuticals by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,039,438 shares of the biopharmaceutical company’s stock valued at $3,825,000 after purchasing an additional 69,270 shares during the last quarter. MetLife Investment Advisors LLC boosted its holdings in Achillion Pharmaceuticals by 81.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 101,528 shares of the biopharmaceutical company’s stock valued at $374,000 after purchasing an additional 45,425 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Achillion Pharmaceuticals by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,713,540 shares of the biopharmaceutical company’s stock valued at $43,106,000 after purchasing an additional 601,486 shares during the last quarter. Vanguard Group Inc boosted its holdings in Achillion Pharmaceuticals by 5.4% in the 3rd quarter. Vanguard Group Inc now owns 11,713,540 shares of the biopharmaceutical company’s stock valued at $43,106,000 after purchasing an additional 601,486 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in Achillion Pharmaceuticals by 107.3% in the 4th quarter. Meeder Asset Management Inc. now owns 26,476 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 13,706 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Achillion Pharmaceuticals Company Profile

Achillion Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small molecule drug therapies for immune system disorders. Its lead drug candidate is ACH-4471, an inhibitor of factor D that is Phase II clinical trials for patients with paroxysmal nocturnal hemoglobinuria (PNH) and C3 glomerulopathy/immune complex membranoproliferative glomerulonephritis.

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