Analyst Sees Exponential Gains in Achillion (ACHN)
Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN) is trading higher yet again as traders and investors continue to chase low-priced small-cap biotech stocks. A boutique brokerage firm called Roth Capital initiated coverage with a BUY rating, calling it one of the best value plays in the hepatitis C space currently. Achillion has been one of the small cap and low-priced stocks in biotech being chased around as traders look and hope for the next ten-bagger. We are checking on the firm’s target as we saw a $12 target on the stock, but that implies exponential upside to today’s price.
Now that the market has opened we have shares trading at $3.68, up 15% from its $3.18 close on Tuesday. The 52-week trading range is $0.65 to $3.89 and the market cap even after today’s gain is a mere $98 million.
The 52-week trading range is $0.65 to $3.89 and the average volume is only about 220,000 shares.
JON C. OGG
DECEMBER 23, 2009
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