Biotech Rally Takes Sector to New Highs
After a brief lull many biopharmaceuticals stocks are rallying over 2% today. Recently we reiterated Cubist (CBST $45.38) up 4.4% and Optimer (OPTR $12.62) up 3.34% and both are among big movers today. Taking the lead from some undiscovered small to mid cap stocks which have recently taken off we are adding Achillion (ACHN $8.60) today.
Achillion is a play on the huge potential for HCV therapeutics and has two Phase 2 clinical milestones in 2013, the first for Phase 2 data in April for its ACH-3102 combo drug with ribavirin. The Company raised $125M last week at a price of $8.40.