Achieve Life Sciences, Inc. (NASDAQ:ACHV) Given Average Recommendation of “Buy” by Brokerages

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have received a consensus rating of “Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $16.00.

A number of research analysts have commented on ACHV shares. Weiss Ratings upgraded Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. UBS Group reissued a “buy” rating on shares of Achieve Life Sciences in a research note on Tuesday, June 23rd. Canaccord Genuity Group set a $13.00 price objective on shares of Achieve Life Sciences and gave the company a “buy” rating in a report on Monday, April 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Achieve Life Sciences in a report on Monday, June 22nd.

Hedge Funds Weigh In On Achieve Life Sciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACHV. AQR Capital Management LLC bought a new stake in shares of Achieve Life Sciences in the first quarter worth $32,000. Qube Research & Technologies Ltd bought a new stake in Achieve Life Sciences during the second quarter worth $232,000. Raymond James Financial Inc. lifted its stake in Achieve Life Sciences by 57.1% in the second quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock valued at $667,000 after acquiring an additional 107,218 shares during the last quarter. Jane Street Group LLC acquired a new stake in Achieve Life Sciences in the second quarter valued at $159,000. Finally, Bank of America Corp DE lifted its stake in 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 last quarter. 33.52% of the stock is owned by institutional investors and hedge funds.

Achieve Life Sciences Trading Up 1.5%

Shares of Achieve Life Sciences stock opened at $6.65 on Friday. The firm has a market capitalization of $682.69 million, a PE ratio of -5.94 and a beta of 2.24. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62. The company’s fifty day moving average price is $5.93 and its two-hundred day moving average price is $4.88. Achieve Life Sciences has a 52-week low of $2.37 and a 52-week high of $7.11.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.11. On average, analysts expect that Achieve Life Sciences will post -0.81 EPS for the current year.

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.