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
Big pharmas Merck and Pfizer modestly beat Q2 estimates early Tuesday, and both guided the full year cautiously as they prepare for new drug launches. Merck stock rose 1.1%, but Pfizer stock fell 1.2%. Merck’s (MRK) earnings totaled 85 cents a share, up a penny from the year-earlier quarter and beating analysts’ consensus by 4 cents. Sales shrank 1% to $10.9 billion due to patent losses but still beat the Street’s expectations by about $300
Big pharmas Merck (MRK) and Pfizer (PFE) modestly beat Q2 estimates early Tuesday, but their guidance remained cautious. Merck stock was up more than 1%, while Pfizer stock was up a fraction in early trading on the stock market today. Merck’s Q2 earnings totaled 85 cents a share, up a penny from the year-earlier quarter and beating analysts’ consensus by 4 cents. Sales shrank 1% to $10.9 billion due to patent losses but beat the Street’s