Company

Bank

Analyst

Coverage

Opinion

Wk chg

6/13 cls

Achillion Pharmaceuticals Inc. (NASDAQ:ACHN)

Baird

Brian Skorney

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Outperform (from neutral)

125%

$6.47

UBS

Andrew Peters

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Buy (from neutral)

Skorney also raised his target to $12 from $4 after Merck & Co. Inc. (NYSE:MRK) announced it will acquire HCV company Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) for $24.50 per share in cash, or about $3.9B (see Cover Story). Skorney said preliminary evidence suggested Merck wasn't the only bidder. He said Achillion would be the next target for M&A, as it is the only other company with a nucleotide-based HCV drug in clinical development. Achillion's ACH-3422 is a nucleotide prodrug inhibitor of HCV NS5B polymerase in Phase I testing.