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 |
---|---|---|---|---|
Oct 2019 | SVB Leerink | Downgrades | Outperform | Market Perform |
May 2019 | Barclays | Downgrades | Equal-Weight | Underweight |
May 2018 | Barclays | Upgrades | Underweight | Equal-Weight |
View More Analyst Ratings for ACHN
View the Latest Analyst Ratings
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Baird Brian SkorneyAnalyst Color Price Target Reiteration Analyst Ratings