Baird analyst Brian Skorney reported on “increasingly bullish” share action of Achillion Pharmaceuticals ACHN following SEC filing by Idenix Pharmaceuticals IDIX.
Skorney remarked that Achillion's stock action has been very bullish after the Idenix SEC filing showing that at least one bidder was “pushing $3 billion” as an offer. The analyst added that there are likely more “enthusiastic pharma bidders looking to acquire a nucleotide analog.”
Baird commented that the company is the “only game in town” with its nucleotide analogue roughly a half a year behind Idenix.
The analyst rates Achillion as Outperform with a $12.00 price target.
Shares of Achillion Pharmaceuticals closed at $8.08 on Thursday. The stock was last trading at $8.27, up 2.29 percent.
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