Achillion Pharmaceuticals Inc (NASDAQ: ACHN), a biopharmaceutical company, experienced a strong upward share price movement after its share price soared over 17% in the last two trading sessions on positive interim results for its hepatitis C treatment. The stock gained more than 7% touching its new intraday 52-week highs in the past two consecutive trading sessions with significant number of shares exchanging hands. During the last trading session, ACHN was among the top gainers in the U.S. healthcare sector after rising 9.6% and closed at its 52-week high of $9.25 while recording significant volumes of 21.9 million shares. Moreover, in the past 5-trading sessions, ACHN surged 25.7% while recording daily average trading volumes of 7.2 million shares, while the stock accumulated over 36% in the last one month with daily average trading volume of 3.6 million shares. The stock is up 178% year-to-date.
Recently, ACNH announced positive data from an eight-week midstage study for its ACH-3102 inhibitor in combination with sofosbuvir, which is marketed and sold as Sovaldi by Gilead Sciences. Moreover, the company is planning to continue to demonstrate good safety and tolerability through three Phase-2 studies, which is believed that these studies will also confirm a differentiated efficacy profile for an NS5A inhibitor. Meanwhile, following the positive result announcement, several rating agencies like Maxim Group and Deutsche Bank upgraded their rating on the stock to buy rating
Company Description:
Achillion Pharmaceuticals Inc (NASDAQ: ACHN) is a biopharmaceutical company that discovers and develops solutions for infectious diseases such as HIV, hepatitis, and resistant bacterial infections.
1-Year Stock Chart:
Source: Bloomberg
