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 two studies supporting a short duration, potentially best-in-disease regimen of its proprietary NS5A and nucleotide inhibitors, ACH-3102 and ACH-3422.
Kolbert noted, “Gilead’s Sovaldi plus Achillion’s NS5A (ACHN-3102) showed “best in class” data, 100% SVR4 in a six week trial. Data from the second trial showed Achillion’s Nucleoside to be potent with a differentiated mechanism of action.”
The analyst added, “Looks like Achillion has a viable nucleoside and 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.”
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 4.1% and a 41.2% success rate. Kolbert has a 118.3% average return when recommending ACHN, and is ranked #860 out of 3423 analysts.