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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
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28 Mar 15 13:08:54
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Donn Herring
27 Mar 15 21:52:49
@OphirGottlieb Maybe $WFC will buyback my $ACHN since they are funding the re-issue.
Guy Rogers
27 Mar 15 16:10:59
$ACHN long $ACHN $NKTR $SRPT $TGTX $THLD $BIOD shorting $RTRX
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27 Mar 15 14:23:09
RSI Below 30 http://t.co/Cq9Q1m4Sxq $ROVI $DD $GALE $LRCX $MEIP $IDRA $CTIC $DAR $MON $GMCR $ACHN $WTW $HLSS $NKTR $LUK $CMCSK $PPC $FMC
Syed Waqas Nabi
27 Mar 15 13:00:47
A bullish Big MAC (Bullish) has occurred at 3:30 PM Mar 27 at $10.17 on Achillion Pharmaceuticals Inc (ACHN) $ACHN
HedgeMind
27 Mar 15 12:03:27
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27 Mar 15 11:01:43
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27 Mar 15 10:21:00
Real-Time feed of company contracts, original agreements and executive updates from $ACHN http://t.co/lPyyq6Lvsm
Quantcha
27 Mar 15 10:09:04
Covered Call Alert: ACHILLION PHARMACEUTICALS $ACHN returning up to 58.39% through 18-Sep-2015 http://t.co/uRwXkxZGz2
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27 Mar 15 09:54:41
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Syed Waqas Nabi
27 Mar 15 09:00:37
A bullish Big MAC (Bullish) has occurred at 11:15 AM Mar 27 at $10.17 on Achillion Pharmaceuticals Inc (ACHN) $ACHN
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27 Mar 15 07:45:00
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Market Int Center
27 Mar 15 07:44:35
Achillion Pharmaceuticals $ACHN Showing Bearish Technicals With Resistance At $10.51 ( http://t.co/h0FecV2Msy )
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27 Mar 15 05:21:07
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26 Mar 15 10:26:33
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$ACHN | Achillion Pharmac is down 38% since we reported $1,198,000 of insider selling on 01/23/2015. Did you ... - http://t.co/B4GTUPQ7we
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Quantcha
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By  +Follow June 11, 2014 8:05AM
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