This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: ACHN

Update (4:20 p.m.): Updated with Tuesday market close information.

NEW YORK (TheStreet) -- Achillion Pharmaceuticals  (ACHN) surged for a second consecutive day on Tuesday after the FDA removed its clinical hold on sovaprevir, one of Achillion's four experimental hepatitis C treatments.

The FDA had placed the hold in June because of abnormal liver results in patients. Achillion can now begin trials with a once-daily maximum dose of 200 mg of sovaprevir in hepatitis C patients and other healthy volunteers. 

The company also announced it had begun initial dosing with ACH-3422, another of its experimental hepatitis C treatments.

Must Read: Achillion Hep C Drug Update is Well Timed

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

Achillion 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.

The stock closed up 83.29%, or $3.54, to $7.79. More than 69.6 million shares changed hands, which dwarfed the average volume of 2,128,800.

For more on this 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

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs