Achillion Pharmaceuticals Inc. (ACHN) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the health care sector during morning trading on September 22. At the lunch break, shares of ACHN have clocked gains of 4.07% to $8.43 after closing the day prior at $8.1. In the first two and a half hours of trading, the stock has gone as high as $8.52 and as low as $8.07. Today’s rise has come with about 1.21 million shares changing hands, compared to an average 30-day volume of 1.45 million for Achillion Pharmaceuticals Inc.. The price is currently below the 30-day volume weighted average price of $8.27 for ACHN.
The share appreciation gives the company a market capitalization of $1.11 billion based upon 136.68 million shares outstanding. It also means that ACHN has a price-to-book ratio of 2.64:1.
In the past 52 weeks, shares of ACHN have traded as low as $5.57 and as high as $10.95. Technical traders will take note that at $8.43, shares of ACHN are trading above their 200-day MA at $8.3 and below their 50-day MA at $8.51. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is ACHN?
Achillion Pharmaceuticals Inc is a biopharmaceutical company which focuses on the discovery, development and commercialization of treatments for infectious diseases like hepatitis C virus, or HCV, infection that are once-daily and ribavirin-free. The company’s 80 employees are led by CEO Milind S. Deshpande from the corporate headquarters at 300 George Street in New Haven, CT.
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