Why Achillion Pharmaceuticals (ACHN) Is Spiking Today

NEW YORK (TheStreet) -- Achillion Pharmaceuticals (ACHN) shares are rising, up 14.4% to $7.39 on Monday, after having its price target raised to $22 from $6 dollars by analysts at Maxim who also reiterated their "buy" rating. 

The increased price target stems from the firm's faith in the intellectual property of the biopharmaceutical company's Hepatitis C nucleotide.

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