Maxim Reiterates Buy On Achillion Following Successful Mid-Stage Hep C Drug Combo Trial
In a research report issued today, Maxim Group analyst Jason Kolbert reiterated a Buy rating on Achillion Pharmaceuticals (NASDAQ:ACHN) with a $22 price target, as the company announced positive interim results from its Phase 2 study evaluating the efficacy of six weeks of 50 mg of ACH-3102 and 400 mg of sofosbuvir.
Kolbert noted, “As we have stated previously it looks like Achillion has a viable nucleoside & we know they have a viable NS5A (probably best in class), together they equal High SVR’s with short treatment duration. With end of year cash ~$100M, we remain positive and consistent with our very bullish investment thesis.”
Achillion Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes anti-infective drug therapies in the United States and internationally.