How To Play Achillion Pharmaceuticals, Inc. (ACHN), Linn Energy LLC (LINE) And ARMOUR Residential REIT, Inc. (ARR)?
New York, NY – GDP INSIDER – 12/29/2014.
Shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN), Linn Energy LLC (NASDAQ:LINE) And ARMOUR Residential REIT, Inc. (NYSE:ARR) were negatively impacted by one or the other reason. While Achillion shares were downgraded, Linn Energy suffered the global trend of a drop in oil price. ARMOUR announced its monthly dividend.
Brokerage, Robert Baird has downgraded shares of Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) to a rating of Neutral from outperform. The brokerage blamed the company’s recent antiviral clinical data falling short of expectations. Apart from the downgrade, it has a 12-month price objective of $16 on the company’s shares.
Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) also disclosed favorable interim results from two trials that supported a short duration. It was due to its best-in-disease procedure of its proprietary NS5A, as well as, nucleotide inhibitors, ACH-3102 and ACH-3422.
The company’s President and CEO, Milind Deshpande, said that it was looking forward to initiating Phase two therapeutic trials in 2015 to determine the doublet of ACH-3102, as well as, ACH-3422.
Oil and gas companies like Linn Energy LLC (NASDAQ:LINE) suffer due to the overall sluggishness globally as weak oil prices hurt investors’ sentiments. Crude oil for February delivery dropped to around $55 a barrel level recently triggering a selloff of oil companies stocks.
The industry is facing excess production, and OPEC is refusing to cut oil production to retain the price level. OPEC seems to believe that the recent oversupply was more to do with shale production in the United States thus dragging the oil price. International Energy Association also joined last week to cut its forecast for the next year. Accordingly, it reduced world oil demand to 900 million barrels a day from 1130 million barrels a day.
ARMOUR Residential REIT, Inc. (NYSE:ARR) disclosed the expected monthly dividend for the first quarter. Accordingly, the dividend would be four cents a share per month for all the three months. While January 15, is fixed for record date for January monthly dividend, February 13, has been marked as record date for February payout. Similarly, March 13, has been fixed as record date for March dividend payment.
Similarly, ARMOUR Residential REIT, Inc. (NYSE:ARR) disclosed that it hoped to pay a dividend by January 27, February, and March to pay the respective monthly dividend. The dividend rate represented a yield of 13% while the five-year average dividend yield was 19.0%.
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