Market Overview

Bank of America Merrill Lynch Reiterates Buy Rating, $13 PT on Achillion Pharmaceuticals

Related ACHN
Benzinga's Top Upgrades, Downgrades For February 8, 2018
31 Stocks Moving In Monday's Pre-Market Session

In a report published Wednesday, Bank of America Merrill Lynch reiterated its Buy rating and $13.00 price target on Achillion Pharmaceuticals (NASDAQ: ACHN).

BofA Merrill Lynch noted, “In early January, ACHN plans to disclose interim data from an ongoing pilot study evaluating its second generation HCV NS5a inhibitor ACH-3102 in combination with ribavirin. While results will be on a small patient subset and small patient numbers, partial 4 and 12 week results will provide some preliminary information designed to address the key question of whether this drug candidate is differentiated from first generation NS5a inhibitors, particularly on resistance barrier. If positive, meaning there is no viral breakthrough and safety data are clean, these data would provide an important step to increase the strategic value of ACHN's HCV drug portfolio. We note there remains a significant unmet need in pharma/biotech pipelines for a high barrier to resistance NS5a inhibitor. If there is a safety finding of concern, we see substantial downside to ACHN shares. We take some comfort this risk is partially mitigated as the company is planning to expand the ongoing trial and any obvious safety signal would have caused the trial to shut down; there is limited patient exposure however, so it is too early to view this risk as eliminated.”

Achillion Pharmaceuticals closed on Monday at $8.51.

Latest Ratings for ACHN

Feb 2018B. RileyInitiates Coverage OnNeutral
Aug 2017BairdDowngradesOutperformNeutral
May 2017Leerink SwannUpgradesMarket PerformOutperform

View More Analyst Ratings for ACHN
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Reiteration Analyst Ratings


Related Articles (ACHN)

View Comments and Join the Discussion!