Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) announced the start of patient dosing in a global Phase 2b open-label OMEGA-1 study of JNJ-4178, a 3DAA combination of odalasvir, simeprevir, and AL-335, has been initiated by Janssen Research & Development, LLC., part of the Janssen Pharmaceutical Companies of Johnson & Johnson (Janssen), in treatment-naive and treatment-experienced patients with chronic hepatitis C virus infection (HCV) without cirrhosis.
This large, international, multi-center study is expected to enroll approximately 300 HCV patients, and is part of Janssen’s global development program for JNJ-4178. Clinical trial sites are located in Europe, North America, and Asia.
The objectives of OMEGA-1 are to investigate the efficacy, safety and pharmacokinetics of JNJ-4178 (odalasvir (25mg QD), simeprevir (75mg QD), and AL-335 (800mg QD)) in treatment-naive and treatment-experienced non-cirrhotic patients with chronic hepatitis C virus genotype 1, 2, 4, 5, and 6 infection. Patients in the study will receive the triple combination once daily for either 6 or 8 weeks. The primary efficacy endpoint will be the percentage of patients with a sustained virological response 12 weeks after the end of treatment (SVR12).
An ongoing Phase 2a study (‘604′ study) is assessing JNJ-4178 in patients with or without compensated cirrhosis.(Original Source)
Shares of Achillion Pharmaceuticals closed yesterday at $4.19, up $0.04 or 0.96%. ACHN has a 1-year high of $10.95 and a 1-year low of $3.78. The stock’s 50-day moving average is $7.10 and its 200-day moving average is $8.47.
On the ratings front, Achillion has been the subject of a number of recent research reports. In a report issued on November 4, Chardan analyst Madhu Kumar upgraded ACHN to Hold, with a price target of $5, which implies an upside of 19% from current levels. Separately, on November 3, Robert W. Baird’s Brian Skorney reiterated a Buy rating on the stock and has a price target of $10.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Madhu Kumar and Brian Skorney have a yearly average loss of 10.8% and a return of 2.4% respectively. Kumar has a success rate of 36% and is ranked #3916 out of 4241 analysts, while Skorney has a success rate of 46% and is ranked #1284.
Overall, 3 research analysts have assigned a Hold rating and 3 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 $10.00 which is 138.7% above where the stock closed yesterday.
Achillion Pharmaceuticals, Inc. is a biopharmaceutical company that discovers, develops and commercializes innovative treatments for infectious diseases. The company is currently engaged in the development of antivirals for the treatment of chronic hepatitis C infection and resistant bacterial infections. Its products include ACH-3102, ACH-2684, Sovaprevir and ACH-3422.