Market Overview

UPDATE: Deutsche Bank Initiates Buy on Achillion Pharmaceuticals

Related ACHN
Achillion Announces Janssen Initiated Phase 2a Study to Evaluate Combination of AL-335, ACH-3102, and Simeprevir for Treatment of Genotype 1 Chronic HCV
UBS: Biotech Will Continue To Outperform In 2015

Deutsche Bank initiated its coverage on Achillion Pharmaceuticals (NASDAQ: ACHN) with a Buy rating and a price target of $12 per share.

Deutsche Bank said, "ACHN's first R&D Day is 9/27. We believe ACHN has HCV drugs that will be very competitive in a big HCV market. … We think 3102 will show easily over 3 logs of viral reduction making it very competitive relative to all classes of HCV drugs. Our focus will be on the resistance profile for 3102. We think 3102 could work in mutations where first gen NS5As (ABT&GILD) do not. We expect some color on this at R&D Day."

Achillion Pharmaceuticals closed at $8.28 on Tuesday.

Latest Ratings for ACHN

Oct 2015JefferiesMaintainsHold
Sep 2015JefferiesInitiates Coverage onHold
Sep 2015UBSUpgradesNeutralBuy

View More Analyst Ratings for ACHN
View the Latest Analyst Ratings

Posted-In: Deutsche BankInitiation Pre-Market Outlook Analyst Ratings


Related Articles (ACHN)

View Comments and Join the Discussion!

Get Benzinga's Newsletters