[Globe Newswire] Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) (TREND ANALYSIS) announced positive interim results from two studies supporting a short duration, potentially best-in-disease regimen of its proprietary NS5A and nucleotide inhibitors, ACH-3102 and ACH-3422.
“We believe that achievement of 100 percent SVR4 in six weeks in the ACH-3102 proxy study, combined with the high potency and safety demonstrated by ACH-3422, highlights the ability of our exceptional, fully owned portfolio to excel in the HCV market,” commented Milind Deshpande, Ph.D., President and Chief Executive Officer of Achillion. “We look forward to initiating in 2015 short duration, pan-genotypic Phase 2 therapeutic trials to evaluate the doublet of ACH-3102 and ACH-3422, with the ultimate goal of improving patient care and access to treatment.”
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In terms of market cap, Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) is now valued at $1.28 billion. The company last reported earnings per share of -0.62 on November 10th. The company is expected to report earnings per share next year 27.30% less than this year. The five year earnings per share estimate is at 19.54%.
In terms of ownership, company insiders have sold 22.40% of their stock over the past quarter while institutions have decreased their positions by 7.37%. As a whole, institutions own 90.60% of the total outstanding shares.
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Several analysts have recently issued updates on the company. One recent update included Maxim Group reiterated the stock, on August 15th, with a Buy rating. Prior to that, FBR Capital also weighed in on the stock. FBR Capital initiated their Outperform stance on the company, on August 15th, moving their price target from $6 to $22. Analysts as a whole have a target price of $13.00 and a recommendation score of 1.80.
Achillion Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes anti-infective drug therapies in the United States and internationally. It focuses on developing combination therapies for the treatment of chronic hepatitis C (HCV) infection and resistant bacterial infections. The company’s drug candidates for treating chronic HCV infection comprise Sovaprevir, a NS3/4A protease inhibitor, which has completed a Phase IIa clinical trial; ACH-3102, a NS5A inhibitor that is in Phase IIa clinical trial; ACH-3422, a NS5B nucleotide polymerase inhibitor, which has completed preclinical studies; and ACH-2684, a NS3/4A protease inhibitor that has completed Phase Ia and Ib clinical trials. It has a license and development agreement with Ora, Inc. for the development and commercialization of ACH-702, an antibacterial drug candidate that is delivered topically or locally. The company was founded in 1998 and is headquartered in New Haven, Connecticut.