Thursday's downgrade is in part based on a lack of confidence in Achillion's CH-4471 to compete with Alexion Pharmaceuticals' Soliris treatment.
Alexion Pharmaceuticals, United Therapeutics and Gilead Sciences were among the biotech stock movers in premarket trading on July 27.
A quantitative upgrade and chart patterns may do the trick.
'Blind side' competition is playing havoc with some highly visible companies, says Jim Cramer. You can't compete with free.
Jim Cramer's bullish on Alexion Pharmaceuticals and Incyte. But, he says, Disney's good for the long term.