Piper Jaffray: Achillion Pharmaceuticals Ended 2011 with $80M Cash

According to a research report published earlier today by Piper Jaffray, Achillion Pharmaceuticals

ended a profitable year with $80M in cash. Piper Jaffray said in the report, “Achillion holds potential best-in-class HCV protease and NS5A inhibitors with in-house combination trials planned for later this year. This regimen offers a counter play to the "nuc" dominated landscape. We expect the wave of consolidation to continue in the HCV space with Achillion as a likely target.” Piper Jaffray maintains its Overweight rating and $17 PT on Achillion Pharmaceuticals, which is currently trading at $10.74.