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UPDATE: Deutsche Bank Initiates Buy on Achillion Pharmaceuticals

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Achillion Pharma Initiated At Sell By Chardan, Sees ≥60% Downside
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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

DateFirmActionFromTo
Jul 2016Chardan CapitalInitiates Coverage onSell
Jul 2016JMP SecuritiesUpgradesMarket PerformMarket Outperform
May 2016Leerink SwannMaintainsMarket Perform

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

 

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