Achieve Life Sciences (NASDAQ:ACHV) Stock Price Up 9.3% – Here’s What Happened

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) shot up 9.3% during mid-day trading on Thursday . The stock traded as high as $5.50 and last traded at $5.38. 725,384 shares traded hands during trading, a decline of 29% from the average session volume of 1,027,760 shares. The stock had previously closed at $4.92.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACHV. Wall Street Zen upgraded Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Canaccord Genuity Group set a $13.00 target price on Achieve Life Sciences and gave the stock a “buy” rating in a report on Monday, April 20th. Weiss Ratings upgraded Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $14.67.

Achieve Life Sciences Price Performance

The firm has a 50-day moving average of $4.24 and a 200-day moving average of $4.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.62 and a current ratio of 2.62. The firm has a market capitalization of $544.61 million, a P/E ratio of -4.73 and a beta of 2.27.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.11. As a group, analysts predict that Achieve Life Sciences, Inc. will post -0.91 EPS for the current year.

Institutional Trading of Achieve Life Sciences

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in shares of Achieve Life Sciences during the first quarter valued at approximately $32,000. Next Capital Management LLC purchased a new stake in Achieve Life Sciences during the 3rd quarter valued at $51,000. Sender Co & Partners Inc. bought a new position in shares of Achieve Life Sciences during the 2nd quarter valued at $56,000. OneDigital Investment Advisors LLC bought a new position in shares of Achieve Life Sciences during the 3rd quarter valued at $63,000. Finally, Magnolia Capital Advisors LLC purchased a new position in shares of Achieve Life Sciences in the 4th quarter worth $64,000. 33.52% of the stock is currently owned by institutional investors.

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.