Baird Comments On Achillion's Bullish Share Action
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
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| May 2019 | Downgrades | Equal-Weight | Underweight | |
| May 2018 | Upgrades | Underweight | Equal-Weight | |
| Feb 2018 | Initiates Coverage On | Neutral |
View More Analyst Ratings for ACHN
View the Latest Analyst Ratings
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