This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Why Achillion Pharmaceuticals (ACHN) Stock Is Up Today (Update)

Update (4:10 p.m.): Updated with Monday market close information.

NEW YORK (TheStreet) -- Achillion Pharmaceuticals (ACHN - Get Report) surged Monday amid news that Merck (MRK) would purchase biotechnology company Idenix Pharmaceuticals (IDIX) for $3.85 billion as it tries to strengthen its position in the increasingly competitive hepatitis C sector.

Achillion could be the next acquisition target for larger companies. CNBC reported Johnson & Johnson (JNJ) and Abbvie (ABBV) were both interested in buying Idenix but Merck secured the purchase. Those companies, among others, could now turn their focus to Achillion, which has a pipeline of hepatitis C drugs.

Merck will pay $24.50 a share in cash for Idenix, more than triple the company's closing price of $7.23 on Friday.

Must Read: Achillion Pharma Might be Next Hep C Takeout Target

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

"Idenix has established a promising portfolio of hepatitis C candidates,'' said Dr. Roger Perlmutter, the president of Merck Research Laboratories, in a statement Monday. 

Achillion stock closed up 47.57%, or $1.37, to $4.25. More than 46.9 million shares changed hands, which eclipsed the average volume of 1,420,150.

For more on the Achillion story, read TheStreet's Adam Feuerstein's article here.

ACHN Price Chart

ACHN Price data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ACHN $8.82 0.00%
AAPL $93.75 0.12%
FB $118.57 0.00%
GOOG $698.21 0.00%
TSLA $238.90 -1.20%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs