New Haven drug developer Achillion Pharmaceutical Inc. is one of a handful of select biotechnology firms that a WedBush analyst says could see their stocks move sharply early this year, The Associated Press reports.
Analyst Y. Katherine Xu reaffirmed her “outperform” rating and $5 price target on Achillion, saying positive results from a study on a potential hepatitis C drug could boost the stock.
In late morning trading Tuesday, Achillion was up 2 cents at $5.10.
Meanwhile, Xu also reaffirmed an “outperform” rating and $57 price target on Pharmasset Inc. as that company or its partner Roche is expected to release study data on its potential hepatitis C drug.
“If data is satisfactory, especially on the safety side, we would increase our probabilities of success for the candidates,” Xu said.
She also reaffirmed a “neutral” rating and $42 price target on Vertex Pharmaceuticals Inc., saying late-stage study data is due on the company’s potential cystic fibrosis drug. Positive results could push the stock value higher, she said.
She reaffirmed an “outperform” rating and $8 price target on Dynavax Technologies Corp. citing the potential for positive data from a late-stage study on the company’s potential hepatitis B drug.
She reaffirmed an “outperform” rating and $25 price target on Medivation Inc., citing expectations for data from a Huntington’s disease study on the drug candidate Dimebon.
She also reaffirmed an “outperform” rating and $55 price target on InterMune Inc., citing expected European Union approval of the lung condition drug Esbriet.
