Achillion Pharmaceuticals Inc. (NASDAQ: ACHN), focused on researching therapies to treat hepatitis C, is today’s top stock that gained strong share price momentum on speculation that it could be a buyout target following Merck’s $3.85 billion purchase of Idenix Pharmaceuticals yesterday. In the last session, ACHN was the top performer in the US healthcare sector after gaining 48% while recording huge volumes of 48 million shares. With the sharp move, the stock trades above all its key DMAs (Daily Moving Averages) including the 200 DMA, signaling strong upward momentum.
Company Description:
Achillion Pharmaceuticals Inc. (NASDAQ: ACHN) is a biopharmaceutical company that discovers and develops solutions for infectious diseases such as HIV, hepatitis C, and resistant bacterial infections.
1-Year Stock Chart:
Source: Bloomberg
