Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) announced that a submitted abstract has been accepted for oral presentation at the 57th Annual Meeting of the American Society of Hematology (ASH) in Orlando, FL, December 5 — 8, and for inclusion in the 2016 Highlights of ASH. The abstract entitled, “Small Molecule Factor D Inhibitors Block Complement Activation in Paroxysmal Nocturnal Hemoglobinuria and Atypical Hemolytic Uremic Syndrome,” details research conducted by Dr. Robert Brodsky and his team at Johns Hopkins University School of Medicine, with highly potent and specific factor D inhibitors from Achillion’s complement inhibitor platform.
Milind Deshpande, Ph.D., President and Chief Executive Officer of Achillion, commented, “The alternative pathway within the complement system plays a significant role in multiple serious and underserved diseases. This research conducted by Dr. Brodsky and his associates demonstrates that Achillion’s compounds effectively block the breakdown of PNH cells and mitigate the accumulation of C3 fragments on cells which leads to extravascular hemolysis. Furthermore, the effect observed with these inhibitors for aHUS was observed in the first reliable human, in vitro model of the disease, which was developed by Dr. Brodsky and his colleagues.”
Dr. Deshpande further stated, “Achillion’s factor D inhibitor compounds represent a novel approach to potentially treat patients with complement-related rare diseases, many of which are directly caused by dysregulation of the alternative pathway, including orphan diseases such as PNH and aHUS, as well as for higher prevalence indications such as dry age-related macular degeneration.” (Original Source)
Shares of Achillion Pharmaceuticals closed yesterday at $8.96. ACHN has a 1-year high of $16.87 and a 1-year low of $6.41. The stock’s 50-day moving average is $7.83 and its 200-day moving average is $8.49.
On the ratings front, Achillion has been the subject of a number of recent research reports. In a report issued on September 8, UBS analyst Andrew Peters upgraded ACHN to Buy, with a price target of $11.50, which implies an upside of 28.3% from current levels. Separately, on August 13, Maxim Group’s Jason Kolbert reiterated a Buy rating on the stock and has a price target of $11.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Andrew Peters and Jason Kolbert have a total average return of 1.7% and -14.5% respectively. Peters has a success rate of 37.5% and is ranked #1999 out of 3824 analysts, while Kolbert has a success rate of 30.3% and is ranked #3820.
Achillion Pharmaceuticals Inc is a biopharmaceutical company which focuses on the discovery, development and commercialization of treatments for infectious diseases like hepatitis C virus, or HCV, infection that are once-daily and ribavirin-free.