Achieve Life Sciences (NASDAQ:ACHV) Stock Price Up 8.1% – Should You Buy?

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price was up 8.1% on Monday . The company traded as high as $5.20 and last traded at $5.2450. 424,141 shares traded hands during trading, a decline of 62% from the average session volume of 1,114,316 shares. The stock had previously closed at $4.85.

Analysts Set New Price Targets

ACHV has been the topic of a number of research analyst reports. Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Canaccord Genuity Group set a $13.00 price target on Achieve Life Sciences and gave the stock a “buy” rating in a research report on Monday, April 20th. UBS Group reaffirmed a “buy” rating on shares of Achieve Life Sciences in a research note on Tuesday. Wall Street Zen upgraded Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Achieve Life Sciences in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Achieve Life Sciences currently has a consensus rating of “Buy” and an average price target of $14.67.

Achieve Life Sciences Price Performance

The stock’s 50 day moving average is $4.88 and its two-hundred day moving average is $4.55. The stock has a market capitalization of $514.32 million, a PE ratio of -4.47 and a beta of 2.27. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62.

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

Hedge Funds Weigh In On Achieve Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the company. ADAR1 Capital Management LLC raised its stake in Achieve Life Sciences by 10.7% during the 3rd quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock worth $151,000 after acquiring an additional 4,627 shares in the last quarter. Manchester Financial Inc. grew its holdings in shares of Achieve Life Sciences by 12.1% during the first quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock worth $195,000 after purchasing an additional 7,138 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Achieve Life Sciences by 39.9% during the second quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 9,617 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its position in shares of Achieve Life Sciences by 100.0% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 10,000 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences during the first quarter worth about $32,000. Institutional investors and hedge funds 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.