Achillion Pharmaceuticals (ACHN) stock touched an 18-month high for the second straight trading day on Monday, after Deutsche Bank upgraded the biotech startup and boosted price target on positive news about its new hepatitis drug. Achillion stock was up more than 2% in afternoon trading in the stock market today, near 9.50, after rising 9.6% on Friday. Achillion stock has risen 46% since mid-June, after Merck (MRK) announced that it would buy
Hot biotech stock Achillion Pharmaceuticals (ACHN) was up 2%, near 8.20, in midday trading in the stock market today after an analyst found more support for its prospects as a buyout candidate. R. W. Baird’s Brian Skorney noted that Merck’s (MRK) official tender offer statement Friday indicated that there was another bidder for Idenix Pharmaceuticals (IDIX), which accepted Merck’s $3.85 billion bid last week. In Skorney’s view, this means that
Biotech Achillion Pharmaceuticals (ACHN) got another boost Monday when Maxim Group more than tripled its price target on the stock, sending shares up 17% in morning trading on the stock market today. After having dinner with company executives, analyst Jason Kolbert hiked his target to 22 from 6, while maintaining his buy rating. He cited the potential of all three of Achillion’s hepatitis C drug candidates, with the ultimate goal of creating a