Short Interest in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) Drops By 6.6%
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 8,030,000 shares, a decrease of 6.6% from the August 30th total of 8,600,000 shares. Currently, 5.9% of the company's stock are sold short. Based on an average daily volume of 1,780,000 shares, the short-interest ratio is presently 4.5 days.
A number of hedge funds have recently modified their holdings of the stock. Virtus ETF Advisers LLC raised its stake in Achillion Pharmaceuticals by 10.0% in the 2nd quarter. Virtus ETF Advisers LLC now owns 95,598 shares of the biopharmaceutical company's stock worth $256,000 after acquiring an additional 8,694 shares during the last quarter. Bank of Montreal Can purchased a new position in Achillion Pharmaceuticals in the 2nd quarter worth $30,000. Bank of New York Mellon Corp raised its stake in Achillion Pharmaceuticals by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 650,592 shares of the biopharmaceutical company's stock worth $1,744,000 after acquiring an additional 14,757 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Achillion Pharmaceuticals by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 795,239 shares of the biopharmaceutical company's stock worth $2,132,000 after acquiring an additional 20,215 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in Achillion Pharmaceuticals in the 2nd quarter worth $74,000. Institutional investors own 78.57% of the company's stock.
Shares of ACHN opened at $3.65 on Wednesday. Achillion Pharmaceuticals has a 12 month low of $1.29 and a 12 month high of $5.03. The stock has a fifty day moving average price of $3.94 and a 200-day moving average price of $3.42. The firm has a market cap of $507.08 million, a PE ratio of -7.16 and a beta of 1.57.
Achillion Pharmaceuticals (NASDAQ:ACHN) last issued its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Research analysts forecast that Achillion Pharmaceuticals will post -0.59 earnings per share for the current fiscal year.
ACHN has been the subject of several analyst reports. ValuEngine lowered Achillion Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Thursday, October 10th. BidaskClub lowered Achillion Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday. Finally, Zacks Investment Research lowered Achillion Pharmaceuticals from a "hold" rating to a "sell" rating and set a $4.75 price objective for the company. in a report on Tuesday, August 27th. Four analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. The company has a consensus rating of "Sell" and an average target price of $3.63.Achillion Pharmaceuticals Company Profile
Achillion Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small molecule drug therapies for immune system disorders. Its lead drug candidate is ACH-4471, an inhibitor of factor D that is Phase II clinical trials for patients with paroxysmal nocturnal hemoglobinuria (PNH) and C3 glomerulopathy/immune complex membranoproliferative glomerulonephritis.
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ANI Pharmaceuticals Inc (NASDAQ:ANIP) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 1,393,100 shares, a decrease of 6.7% from the July 31st
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