Achillion Pharmaceuticals, Inc. (ACHN) Shares Gain On Interesting Technical Setup


Shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) are trading significantly higher in the early afternoon today as investors and traders begin looking towards the stock’s technical data. The stock, which had a not-so-great day yesterday, has been gaining steadily throughout trading this morning and afternoon. Shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) are up over 50% in the last 10 weeks and traders seem to like the pattern which has emerged. While today’s move comes on lower-than-average volume, it appears as if a cup-and-handle pattern has formed. While the chart is setting up quite nicely this afternoon, traders may want to hold off and see how the stock reacts going into the close today.

The stock is up 4.18% or $0.42 following the news, hitting $10.47 per share. About 749,278 shares traded hands. ACHN has risen 8.77% since May 26, 2015 and is uptrending. It has outperformed the S&P500 by 11.03%.

From a total of 3 analysts covering Achillion Pharma (NASDAQ:ACHN) stock, 2 rate it a “Buy”, 0 a “Sell”, and 1 a “Hold”. This means that 67% of the ratings are positive. The highest target price is $11 while the lowest target price is $7. The mean of all analyst targets is $9.50 which is -9.26% below today’s ($10.47) stock price. Achillion Pharma was the topic of 5 analyst reports since August 13, 2015 according to the firm StockzIntelligence Inc. UBS upgraded shares on September 8 to a “Buy” rating.

The institutional sentiment increased to 1.03 in Q2 2015. It’s up 0.02, from 1.01 in 2015Q2. The ratio is positive, as 33 funds sold all their Achillion Pharmaceuticals, Inc. shares they owned while 38 reduced their positions. 14 funds bought stakes while 59 increased their total positions. Institutions now own 128.54 million shares which is 21.08% more than the previous share count of 106.16 million in 2015Q2.

Ra Capital Management Llc holds 11.64% of its total portfolio in Achillion Pharmaceuticals, Inc., equating to 11.73 million shares. Rtw Investments Llc owns 2.55 million shares representing 5.56% of their total US portfolio. Moreover, Dafna Capital Management Llc has 3.29% of their total portfolio invested in the company, equating to 480,300 shares. The California-based Doheny Asset Management Ca has a total of 1.83% of their portfolio invested in the stock. Sio Capital Management Llc, a New York-based fund reported 364,368 shares owned.

Since August 18, 2015, the stock had 0 insider purchases, and 2 sales for a total of $360,729 in net activity. Vitullo Nicole sold 9,310 shares worth $76,528.

Achillion Pharmaceuticals, Inc. is a biopharmaceutical company. The company has a market cap of $1.40 billion. The Company’s primary business is to discover, develop and commercialize small molecule therapeutics for the treatment of infectious diseases and immune system disorders. It currently has negative earnings. The Firm is focused on developing short-duration combination therapies for the treatment of chronic hepatitis C virus, or HCV, infection that are once-daily and ribavirin-free.