Assenagon Asset Management S.A. bought a new stake in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,385,860 shares of the biopharmaceutical company’s stock, valued at approximately $5,100,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in Achillion Pharmaceuticals in the second quarter valued at about $135,000. Cubist Systematic Strategies LLC purchased a new stake in Achillion Pharmaceuticals during the second quarter worth about $147,000. BlueMountain Capital Management LLC purchased a new stake in Achillion Pharmaceuticals during the second quarter worth about $159,000. Spark Investment Management LLC increased its stake in Achillion Pharmaceuticals by 95.3% during the second quarter. Spark Investment Management LLC now owns 195,900 shares of the biopharmaceutical company’s stock worth $554,000 after purchasing an additional 95,600 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Achillion Pharmaceuticals during the second quarter worth about $689,000. 78.29% of the stock is currently owned by institutional investors.
Shares of NASDAQ:ACHN opened at $3.15 on Friday. The stock has a market cap of $392.20 million, a price-to-earnings ratio of -5.08 and a beta of 1.28. Achillion Pharmaceuticals, Inc. has a 1 year low of $2.33 and a 1 year high of $4.34.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.01. As a group, sell-side analysts anticipate that Achillion Pharmaceuticals, Inc. will post -0.52 EPS for the current fiscal year.
Separately, BidaskClub lowered shares of Achillion Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $4.38.
Achillion Pharmaceuticals Profile
Achillion Pharmaceuticals, Inc, a biopharmaceutical company, discovers, develops, and commercializes small molecule drug therapies for immune system disorders in the United States. Its lead drug candidate includes ACH-4471, an inhibitor of factor D that is Phase II clinical trials for patients with paroxysmal nocturnal hemoglobinuria and C3 glomerulopathy.
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