In a research report issued today, Maxim Group analyst Jason Kolbert maintained a Buy rating on Achillion Pharmaceuticals (NASDAQ:ACHN) with a $22 price target, as the company yesterday announced its third quarter results.
Kolbert observed, “What’s next? Results from both trials in the coming weeks. Achillion is seeking approval from the FDA to initiate a phase II trial to evaluate combination therapies in chronic HCV patients. The plan is to evaluate ACH-3422, the nucleotide analogue, in combination with ACH-3102, the NS5A inhibitor, both with and without a protease inhibitor. These double and triple combination therapies are planned for 2015.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 5.4% and a 43.4% success rate. Kolbert has a 91.4% average return when recommending ACHN, and is ranked #687 out of 3362 analysts.