In a research report released Monday, Maxim Group analyst Jason Kolbert reiterated a Buy rating on Achillion Pharmaceuticals (NASDAQ:ACHN) with a $22 price target, which represents a potential upside of 59% from where the stock is currently trading.
Kolbert noted, “Achillion shares fell when the company reported the quarter, as expectations had been building to a peek into nucleoside data at AASLD (ACH-3422). At that time, we said: “Data is around the corner, so investors need to sit tight and wait and see. Combination studies should provide insights soon.” Days later, shares rallied. Why? Folks seems to be excited that Achillion’s NS5A plus Gilead’s showed 100% SVR rates. The analyst concluded, “We remain believers in Achillion and look forward to nucleoside data as the next event.”
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 5.6% and a 38.9% success rate. Kolbert has a 136.5% average return when recommending ACHN, and is ranked #665 out of 3376 analysts.