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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. 

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for ACHN
nasdaqfan
19 Sep 14 14:54:25
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chartguy89
19 Sep 14 14:43:16
ACHN 11.50 Stock Charts $ACHN Achillion Pharmaceuticals Inc. (NASDAQ) Last Updated: 09/19/2014 16:43:26 ACHN S http://t.co/A1eMd2CDcG
Stock_Tracker
19 Sep 14 14:40:21
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19 Sep 14 12:47:15
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19 Sep 14 11:50:10
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19 Sep 14 11:41:19
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Trade Followers
19 Sep 14 10:44:21
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19 Sep 14 09:34:44
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James P Worthy
19 Sep 14 09:31:48
$ACHN Achillion Pharmaceuticals, Inc. (ACHN): Peter Kolchinsky's RA Capital Sells ... http://t.co/s4DHGng0kw
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19 Sep 14 09:16:47
jim50: $ACHN Open Date=Sept-18-2014 Open=11.97 High=12.2 http://t.co/21CdLfBBmV
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19 Sep 14 09:16:44
jim50: $ACHN Open Date=Sept-18-2014 Open=11.97 High=12.2 http://t.co/ovPJLRqpe8
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19 Sep 14 09:11:02
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jim50
19 Sep 14 09:09:00
$ACHN Open Date=Sept-18-2014 Open=11.97 High=12.2 Low=11.76 Close=11.95 Volume=3698800 http://t.co/y0T4mEfraC
leahanne
19 Sep 14 08:42:27
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19 Sep 14 08:25:11
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19 Sep 14 08:24:30
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19 Sep 14 07:59:09
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19 Sep 14 07:51:54
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Investors Hangout
19 Sep 14 07:46:29
DennyT: IYT Income Statement $IYT $CAT $ACHN $GMCR $GDX http://t.co/dvprlKeugB
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19 Sep 14 07:38:14
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19 Sep 14 07:37:41
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19 Sep 14 07:34:25
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19 Sep 14 07:34:22
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19 Sep 14 07:09:52
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19 Sep 14 05:24:35
Top 3 $NBI NASDAQ #Biotech Performers This Year: $ITMN +400.34%, @AchillionPharma $ACHN +260.05%, $AVNR +247.62%
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19 Sep 14 05:24:21
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19 Sep 14 04:52:46
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19 Sep 14 04:52:46
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19 Sep 14 04:52:44
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OptionApps
19 Sep 14 04:52:44
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19 Sep 14 04:52:43
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19 Sep 14 04:52:43
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19 Sep 14 04:35:57
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Langan Stocks
19 Sep 14 04:27:38
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19 Sep 14 04:10:03
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19 Sep 14 04:08:08
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Stock_Tracker
19 Sep 14 02:23:16
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Rosner Stocks
18 Sep 14 23:49:51
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Stock Rocket
18 Sep 14 23:49:41
$NETE Gained 551.93% In The Past 6 Weeks! Major News: http://t.co/PU7GW934W5 $CRI $MRVL $ACHN
PolgarStocks
18 Sep 14 23:13:51
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By  +Follow June 11, 2014 8:05AM
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