Achieve Life Sciences (NASDAQ:ACHV) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of Achieve Life Sciences (NASDAQ:ACHV) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

ACHV has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a report on Thursday, April 16th. Canaccord Genuity Group set a $13.00 price target on shares of Achieve Life Sciences and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Weiss Ratings raised shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $14.67.

Achieve Life Sciences Price Performance

Shares of ACHV opened at $5.21 on Friday. The company has a market cap of $277.33 million, a price-to-earnings ratio of -4.01 and a beta of 2.25. Achieve Life Sciences has a twelve month low of $2.00 and a twelve month high of $6.03. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average of $3.95 and a two-hundred day moving average of $4.44.

Achieve Life Sciences (NASDAQ:ACHV) last announced its earnings results on Tuesday, March 24th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). As a group, analysts predict that Achieve Life Sciences will post -1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ACHV. Franklin Resources Inc. raised its holdings in shares of Achieve Life Sciences by 18,747.4% in the fourth quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company’s stock worth $21,715,000 after buying an additional 4,346,011 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Achieve Life Sciences in the second quarter worth $2,652,000. Millennium Management LLC raised its holdings in shares of Achieve Life Sciences by 472.3% during the fourth quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after purchasing an additional 1,121,614 shares during the last quarter. Pathstone Holdings LLC purchased a new position in shares of Achieve Life Sciences during the third quarter worth $1,581,000. Finally, KVP Capital Advisors LP purchased a new position in shares of Achieve Life Sciences during the fourth quarter worth $2,298,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc (NASDAQ: ACHV) is a clinical-stage biotechnology company dedicated to the development and commercialization of cytisinicline, a plant-derived alkaloid for smoking cessation. The company’s mission is to offer a novel, evidence-based therapy that addresses the global need for effective and well-tolerated smoking cessation options. Achieve focuses its efforts on advancing the clinical profile of cytisinicline through rigorous development programs and regulatory engagement.

Cytisinicline (formerly marketed as Tabex® in Europe) acts as a nicotinic acetylcholine receptor partial agonist, helping reduce withdrawal symptoms and nicotine cravings.