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Analysts gave mixed reviews Wednesday to Achillion Pharmaceuticals’ (ACHN) new partnership with Johnson & Johnson (JNJ), as the stock plunged. UBS and JMP Securities both downgraded the stock to neutral as the potential for a massive value-creating event, like a buyout, is limited by the hepatitis-C drug deal. As recently as Monday, Achillion Pharmaceuticals shares shot up 15.3% on buzz that hepatitis-C giant Gilead Sciences (GILD) might buy the Scalper1 News
Scalper1 News