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Buyout Speculation Boosts This Biotechnology Stock

By  +Follow June 11, 2014 8:05AM
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While equity markets edged lower Tuesday, one small cap stock in the biotechnology sector surged, extending its gains from previous trading sessions. Shares of Achillion Pharmaceuticals Inc. (ACHN) , a biopharmaceutical company focused on the development and commercialization of treatment for infectious diseases, have surged in early trading on Tuesday on ongoing buyout speculation.

Stock Continues to Gain Momentum

After surging more than 47% in Monday’s trading session, shares of Achillion Pharmaceuticals gained another 83% on Tuesday to close at $7.79. The trading volume of 27.15 million is more than 10 times the daily average volume of 2.66 million. With the entire trading day still left, Achillion shares could see a significant spike in volume.

Achillion Pharmaceuticals shares have now gained more than 170% in the last three trading sessions. Despite the surge, the stock is still trading below its 52-week high of $8.49. However, the surge has pushed the small cap stock above its 50-day and 200-day moving averages. The stock’s MACD has also crossed the signal line and the zero-line, which is a strong bullish signal.

Buyout Rumors Spark Rally

The rally in Achillion Pharmaceuticals shares has been sparked by rumors of a takeover. The takeover speculation began after Merck (MRK) announced the acquisition of the company’s rival Idenix Pharmaceuticals Inc. (IDIX) .

Achillion Pharmaceuticals shares have got a further boost following news that the U.S. FDA has allowed the company to conduct trials in patients with hepatitis C.

Milind Deshpande, Ph.D., President and CEO of Achillion Pharmaceuticals, noted that the company remains focused on developing regimens using ACH-3422 and ACH-3102, its second-generation Phase 2 NS5A inhibitor. Deshpande added that the second half of 2014 will feature multiple milestones in that program. 

 

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Results for ACHN
Penny Stockington
6 Jul 15 15:55:52
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7cUOL $CRI $MRVL $ACHN
Pzaa...Guy
6 Jul 15 15:16:03
$ACHN - Initial Statement of Beneficial Ownership (3) http://t.co/tY89gHdK7w
Laveda Arnold
6 Jul 15 15:16:03
$ACHN - Initial Statement of Beneficial Ownership (3) http://t.co/DnwD2jh38x
$Stocknewsalerts
6 Jul 15 15:15:33
$ACHN New SEC Document(s) for Achillion Pharmaceuticals From our Stock News Alerts App
Stock Dawgzz
6 Jul 15 10:30:09
Our Platinum Subscribers Saw Their Penny Stock Alerts Gain Over 200% In 2 Weeks! Big Update: http://t.co/Lhta1yqlzk $CRI $MRVL $ACHN
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6 Jul 15 10:19:03
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Stockaholics
6 Jul 15 10:14:35
$SUTI Has Now Seen 400% Gains In The Past 2 Weeks! Special Update: http://t.co/l1zbyeWEGo $CRI $MRVL $ACHN
Quantcha
6 Jul 15 08:09:17
Covered Call Alert: ACHILLION PHARMACEUTICALS $ACHN returning up to 44.75% through 18-Dec-2015 http://t.co/63yQLAp3x9
Penny Stockington
6 Jul 15 07:31:24
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7cUOL $CRI $MRVL $ACHN
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6 Jul 15 07:16:00
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brian sweetheart
6 Jul 15 06:59:55
Voted top trading group. http://t.co/5eVXN8RJLp Related: $BSMX $PDLI $CIG $PTBI $PSEC $BBG $ACHN
Stock Dawgzz
5 Jul 15 23:52:54
Our Platinum Subscribers Saw Their Penny Stock Alerts Gain Over 200% In 2 Weeks! Big Update: http://t.co/Lhta1y8KaK $CRI $MRVL $ACHN
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5 Jul 15 23:47:28
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5 Jul 15 23:43:19
$SUTI Has Now Seen 400% Gains In The Past 2 Weeks! Special Update: http://t.co/l1zbyeWEGo $CRI $MRVL $ACHN
stockschamp
5 Jul 15 22:33:34
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Stock Dawgzz
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5 Jul 15 17:26:13
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Wall Street
5 Jul 15 13:04:29
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $AVEO $ARIA $ACHN $EGO $IAG $PSEC
Mo Gueraoui
5 Jul 15 09:48:46
@TheStreet Very bad article not worth publishing, especially when u include stock name in title that u don't know anything about! $ACHN +++
Wall Street
5 Jul 15 09:09:22
The Penny Stock Superstar team voted #1 OTC trading group. http://t.co/cQ0lLTokka Related: $AVEO $ARIA $ACHN $EGO $IAG $PSEC
stockmarketnow
5 Jul 15 07:59:59
RT TheStreet: $ACHN has had a rough 2015 so far http://t.co/5FYzw5HQkj
HARRY OTTLEY
5 Jul 15 07:54:22
RT @TheStreet: $ACHN has had a rough 2015 so far http://t.co/KnVoZqKacJ
TheStreet
5 Jul 15 07:50:01
$ACHN has had a rough 2015 so far http://t.co/KnVoZqKacJ
Penny Stockington
5 Jul 15 07:09:46
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7uvGj $CRI $MRVL $ACHN
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5 Jul 15 07:03:38
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5 Jul 15 07:03:30
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Stock Rocket
5 Jul 15 07:02:05
Our Penny Stock Newsletter Alerts Gained 200% In 2 Weeks! Get Our Next Pick Early: http://t.co/4eX1MHBloV $CRI $MRVL $ACHN
Joe Smith
5 Jul 15 04:25:27
RT @HedgeMind: Steve Cohen disclosed 15 stocks w/ 5%+ stake since Q1. Only $ACHN & $TRIL were 100% new stock. http://t.co/16dYd41y5g http:/…
BULLDOG INVESTOR
4 Jul 15 23:24:59
RT @HedgeMind: Steve Cohen disclosed 15 stocks w/ 5%+ stake since Q1. Only $ACHN & $TRIL were 100% new stock. http://t.co/16dYd41y5g http:/…
HedgeMind
4 Jul 15 22:51:56
$TRIL is flat since Cohen acquired 5% stake on 4/23. $GPRE lost 16% since 5/12 when he raised stake to 5%. $ACHN declined 13% since 5/29.
Toad
4 Jul 15 22:27:14
RT @HedgeMind: Steve Cohen disclosed 15 stocks w/ 5%+ stake since Q1. Only $ACHN & $TRIL were 100% new stock. http://t.co/16dYd41y5g http:/…
HedgeMind
4 Jul 15 22:21:51
Steve Cohen disclosed 15 stocks w/ 5%+ stake since Q1. Only $ACHN & $TRIL were 100% new stock. http://t.co/16dYd41y5g http://t.co/lsIGvcY4TE
Penny Stockington
4 Jul 15 20:36:13
$SUTI Has Gained 66.67%, Since Our Penny Stock Blog Alert! Huge News: http://t.co/llIxl7uvGj $CRI $MRVL $ACHN
Stockaholics
4 Jul 15 20:25:09
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4 Jul 15 20:24:08
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4 Jul 15 20:20:33
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Jake13
4 Jul 15 15:51:32
ZTS Zoetis Inc. Last Trade http://t.co/uHWUAxSqki $ZTS $ERF $ACHN $GDX #ZTS #share #stocks
IH NASDAQ OMX
4 Jul 15 15:51:09
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Stock Forums
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Jake13
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Investors Hangout
4 Jul 15 15:48:34
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IH NASDAQ OMX
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Investors Hangout
4 Jul 15 15:48:08
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Lucky Jimmy
4 Jul 15 15:47:04
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By  +Follow June 11, 2014 8:05AM
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