Achillion Pharma target raised to $22 at Maxim Group
Maxim Group raises their ACHN tgt to $22 from $6. After last week's dinner with ACHN management, they expect to see fundamental progress at the company. They see a viable protease inhibitor, a best-in-class NS5A, and an exciting nucleotide program that could have proof-of-concept data in HCV patients by year end. In addition, they believe the issuance of IP around the nucleotide could be another catalyst for the company.