JMP Securities analyst Liisa Bayko says that data on a triple combination HCV treatment presented by Johnson & Johnson (JNJ) yesterday is positive for Achillion (ACHN). The analyst noted that the triple combination includes Achillion's odalasvir and that the six week treatment regimen is shorter than the eight weeks required for Gilead's (GILD) Harvoni. The analyst says that Achillion's stock dropped sharply yesterday because there was disappointment over the combination's efficacy in genotype 3 patients. However, she says that such patients only represent 10% of the total, and she says that Achillion can "conservatively" obtain peak royalty revenue of about $100M from its drug. Bayko keeps a $13 price target and an Outperform rating on the shares.