Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives Average Recommendation of “Buy” from Analysts

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been assigned a consensus rating of “Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $14.6667.

Several analysts have issued reports on ACHV shares. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research note on Thursday, April 16th. Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Finally, Canaccord Genuity Group set a $13.00 price target on Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th.

Institutional Trading of Achieve Life Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. ADAR1 Capital Management LLC raised its stake in shares of Achieve Life Sciences by 10.7% in the 3rd quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 4,627 shares during the period. Manchester Financial Inc. raised its stake in shares of Achieve Life Sciences by 12.1% in the 1st quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock valued at $195,000 after purchasing an additional 7,138 shares during the period. Bank of America Corp DE raised its stake in shares of Achieve Life Sciences by 39.9% in the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 9,617 shares during the period. Robertson Stephens Wealth Management LLC raised its stake in shares of Achieve Life Sciences by 100.0% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 10,000 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Stock Performance

ACHV stock opened at $5.52 on Friday. The business’s 50-day moving average price is $4.61 and its two-hundred day moving average price is $4.53. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.87. The firm has a market cap of $566.68 million, a PE ratio of -4.93 and a beta of 2.27. Achieve Life Sciences has a 1-year low of $2.00 and a 1-year high of $6.16.

Achieve Life Sciences (NASDAQ:ACHV) last posted its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.11. As a group, research analysts forecast that Achieve Life Sciences will post -0.91 earnings per share for the current year.

About Achieve Life Sciences

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.