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Fly News Breaks for September 8, 2015
JNJ, ACHN
Sep 8, 2015 | 05:48 EDT
UBS analyst Andrew Peters upgraded Achillion Pharmaceuticals (ACHN) to Buy saying the recent pullback in shares provides a favorable entry point. The stock is down 33% since announcing a Hepatitis C virus partnership with Johnson & Johnson (JNJ), Peters points out in a research note. The analyst, however, believes interest for new HCV products "may begin to shift" heading into the AASLD liver meeting in the fall. He keeps an $11.50 price target for shares of Achillion. The stock closed Friday up 19c to $7.74.
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