Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) Surges 8.46%


Dallas, Texas 12/03/2013 (Financialstrend) – Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), the drug therapy company with a major focus on development and discovery of drugs that prevent infections has seen some great forward movement in the recent times.

Recording a surge at the end of trading yesterday, Achillion Pharmaceuticals was found to be close the day at $3.46. The trade volume was around 2.03 million, while the average volume of shares it saw stood at $2.25 million.  In the past year, the stock has seen movement in trading between $2.25 and $10.17. Surprisingly, the company was found to have moved to lowest prices of $3.17, despite a high of $3.4s.

In the past month, the company has seen intense insider trading as well. As per requirements, this bio technology stock saw more than three of executives at the company buying shares of the company over the previous month. Another noticeable feature was that there was no insider who sold shares of the company. The insiders who did purchase stock intensively were found to have increased their overall holding by over 10 per cent.

Heading the list was Director Dennis Liotta, who on Nov 22, was found to have purchased 10,000 shares. His overall gain through this purchase stands at 11.1%. Another purchaser was Jason Fisherman, who is also the Director and invested in over 15,000 shares increasing his overall ownership by over 60%.

However, the most significant purchase was made by the owner RA Capital Management, who between October 31 and Nov 20. The record purchase was 23, 366,007 shares. The overall increase in share in terms of percentage was $21.2%.

Earlier in November 2013, it repositioned its HCV products pipeline for the third quarter. The main product being Sovaprevir for Achillion, the regulatory discussions have moved the product into waiting mode. Considering the strong cash position the company currently holds, the going is strong for Achillion.