Achieve Life Sciences (NASDAQ:ACHV) Hits New 12-Month High – Should You Buy?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares reached a new 52-week high on Monday . The stock traded as high as $6.31 and last traded at $6.12, with a volume of 283150 shares changing hands. The stock had previously closed at $6.02.

Analysts Set New Price Targets

A number of analysts recently issued reports on ACHV shares. Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Canaccord Genuity Group set a $13.00 target price on shares of Achieve Life Sciences and gave the company a “buy” rating in a research report on Monday, April 20th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Achieve Life Sciences in a research note on Monday, June 22nd. Weiss Ratings raised shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Finally, UBS Group reiterated a “buy” rating on shares of Achieve Life Sciences in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.00.

Achieve Life Sciences Trading Up 2.3%

The firm has a fifty day moving average of $5.00 and a two-hundred day moving average of $4.57. The company has a market cap of $632.39 million, a PE ratio of -5.48 and a beta of 2.27. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.87.

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, sell-side 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 institutional investors have recently modified their holdings of ACHV. AQR Capital Management LLC bought a new position in Achieve Life Sciences in the 1st quarter worth approximately $32,000. Qube Research & Technologies Ltd purchased a new position in Achieve Life Sciences in the 2nd quarter valued at approximately $232,000. Raymond James Financial Inc. raised its holdings in Achieve Life Sciences by 57.1% during the 2nd 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 period. Jane Street Group LLC bought a new stake in Achieve Life Sciences during the 2nd quarter valued at $159,000. Finally, Bank of America Corp DE lifted its position 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 acquiring an additional 9,617 shares in the last quarter. 33.52% of the stock is currently owned by hedge funds and other 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.