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Baird Comments On Achillion's Bullish Share Action

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Baird analyst Brian Skorney reported on “increasingly bullish” share action of Achillion Pharmaceuticals (NASDAQ: ACHN) following SEC filing by Idenix Pharmaceuticals (NASDAQ: IDIX).

Skorney remarked that Achillion's stock action has been very bullish after the Idenix SEC filing showing that at least one bidder was “pushing $3 billion” as an offer. The analyst added that there are likely more “enthusiastic pharma bidders looking to acquire a nucleotide analog.”

Baird commented that the company is the “only game in town” with its nucleotide analogue roughly a half a year behind Idenix.

The analyst rates Achillion as Outperform with a $12.00 price target.

Shares of Achillion Pharmaceuticals closed at $8.08 on Thursday. The stock was last trading at $8.27, up 2.29 percent.

Latest Ratings for ACHN

DateFirmActionFromTo
May 2019DowngradesEqual-WeightUnderweight
May 2018UpgradesUnderweightEqual-Weight
Feb 2018Initiates Coverage OnNeutral

View More Analyst Ratings for ACHN
View the Latest Analyst Ratings

Posted-In: Baird Brian SkorneyAnalyst Color Price Target Reiteration Analyst Ratings

 

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