Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Achillion Pharmaceuticals, Inc. (ACHN): RA Capital Management Sells Over 2 Million Shares

RA Capital Management, managed by Peter Kolchinsky, continues to unload its stake in Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN). In a new filing with the U.S. Securities and Exchange Commission, RA Capital disclosed that it recently sold around 2.60 million shares of the company’s common stock. The shares were sold in 10 transactions at an average price of $11.29 per share. Following the sale, RA Capital still owns 10.40 million Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) shares.

Peter Kolchinsky

During the second week of this month, RA Capital reported selling around 1.70 million shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) at an average price of $12.45 per share. Earlier this month, RA Capital revealed that it sold 835,293 shares of the company at an average price of $11.63 per share. In June, the fund reported the sale of 800,000 shares of Achillion Pharmaceuticals Inc. (NASDAQ:ACHN) in two transactions for about $8 apiece.

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) is a pharmaceutical company focused on solutions for the most challenging problems in infectious disease including HCV and resistant bacterial infections. The company has a market cap of about $1.1 billion. On early Wednesday, the company’s stock traded down by 0.45% to $11.09. Analysts have the consensus average target price of $12.80 for the stock. The consensus average recommendation is ‘Buy.’

For the second quarter of 2014, Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) reported a net loss of $15.7 million, or $0.16 per share, compared with a net loss of $19.9 million, or $0.21 per share, for the same quarter of 2013. The company recognized no revenues for the three months ended June 30, 2014, nor any during the same period in 2013. The company reduced research and development expenses to $12.2 million in the second quarter from $16.6 million for the same period a year ago.

In June, Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) announced the launch of dosing tests for its ACH-3422 drug, under the Phase 1 clinical trial. ACH-3422 is a nucleotide polymerase inhibitor for the treatment of chronic hepatitis C viral infection. The company is continuing to develop another drug also for the treatment of chronic hepatitis C virus and has recently received a patent from the US Patent & Trademark Office.

Daniel Gold’s QVT Financial, in its latest 13F, disclosed holding 7.39 million shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN). Camber Capital Management, led by Stephen Dubois, owns 5.80 million shares of the company, according to our record.

Boston-based RA Capital invests in companies with promising drugs and technologies. The value of the fund’s equity portfolio totaled around $990 million for the second quarter of 2014.

Warren Buffett and BillionairesFree Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.