Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) announced that Alios Biopharma Inc., part of the Janssen Pharmaceutical Companies (Janssen) has initiated a phase I clinical trial to evaluate the potential effect of simeprevir and odalasvir (also known as ACH-3102) on the pharmacokinetics of AL-335 in healthy volunteers.
This phase I study is an open-label, two-group study of simeprevir and odalasvir, a HCV NS5A inhibitor, on the pharmacokinetics of AL-335, a nucleotide-based HCV polymerase inhibitor. The primary objective of the study is to investigate the potential effect of simeprevir and odalasvir on the pharmacokinetics of AL-335 when administered in combination to healthy volunteers.
As previously announced on May 19, 2015, Achillion has granted Janssen an exclusive, worldwide license to develop and, upon regulatory approval, commercialize HCV products and regimens containing one or more of Achillion’s HCV assets which include odalasvir (ACH-3102), ACH-3422, and sovaprevir. (Original Source)
Shares of Achillion closed last Friday at $8.52. ACHN has a 1-year high of $16.87 and a 1-year low of $6.76. The stock’s 50-day moving average is $8.83 and its 200-day moving average is $10.42.
On the ratings front, Achillion Pharmaceuticalshas been the subject of a number of recent research reports. In a report issued on May 20, William Blair analyst Y Katherine Xu upgraded ACHN to Buy, with a price target of $18, which implies an upside of 111.3% from current levels. Separately, on the same day, JMP’s Liisa Bayko downgraded the stock to Hold .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Y Katherine Xu and Liisa Bayko have a total average return of 21.2% and 54.5% respectively. Xu has a success rate of 59.0% and is ranked #371 out of 3722 analysts, while Bayko has a success rate of 73.5% and is ranked #43.
Overall, 2 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $17.67 which is 107.4% above where the stock closed last Friday.
Achillion Pharmaceuticals Inc is a biopharmaceutical company which focuses on the discovery, development and commercialization of treatments for infectious diseases likehepatitis C virus, or HCV, infection that are once-daily and ribavirin-free.