Deutsche Bank Mystified By 18% Jump In Achillion Pharmaceuticals Inc.

Achillion Pharmaceuticals Inc.

gained nearly 19 percent Wednesday, mystifying a Deutsche Bank analyst. About 19.7 million shares changed hands Wednesday, versus Achillion's average daily volume of 5.9 million shares. New Haven, Conn.-based Achillion is developing treatmentz for hepatitis C and offered promising interim data Friday at a medical conference in Boston. But as of Wednesday, "nothing is different here," Deutsche's Alethia Young said in a research note. "We're surprised." Achillion managers offered no insight into Wednesday's stock movement, Young said. The company reported Friday that all 12 subjects in interim results of a Phase II study of its hepatitis C treatment ACH-3102 achieved the study's primary objective of a sustained viral response after 12 weeks. http://ir.achillion.com/releasedetail.cfm?ReleaseID=881592 Interim results form a Phase I trial of Achillion's ACH-3422 hepatitis C treatment are expected by the end of the current quarter. Young sees potential annual sales for the treatment of $3 billion and said the the upcoming data release is "a potential catalyst" for the stock. Achillion closed Wednesday at $14.85 a share, up $2.37. In the extended session shares fell 1.7 percent.