Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives $15.50 Average Target Price from Brokerages

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has received an average rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.50.

Several research analysts have weighed in on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Achieve Life Sciences in a research report on Monday, November 24th. Citizens Jmp began coverage on Achieve Life Sciences in a research note on Tuesday, November 25th. They issued a “market outperform” rating and a $19.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a report on Monday, December 15th. Finally, Citigroup assumed coverage on Achieve Life Sciences in a report on Tuesday, November 25th. They issued an “outperform” rating on the stock.

Institutional Trading of Achieve Life Sciences

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. raised its holdings in shares of Achieve Life Sciences by 81.3% in the second quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock worth $10,077,000 after acquiring an additional 2,000,079 shares during the last quarter. Simplify Asset Management Inc. increased its position in Achieve Life Sciences by 443.7% during the 2nd quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock worth $2,677,000 after purchasing an additional 966,667 shares in the last quarter. Stonepine Capital Management LLC acquired a new position in Achieve Life Sciences in the 2nd quarter valued at about $753,000. Highbridge Capital Management LLC purchased a new position in Achieve Life Sciences in the 2nd quarter valued at about $300,000. Finally, Nantahala Capital Management LLC lifted its holdings in Achieve Life Sciences by 37.4% in the 1st quarter. Nantahala Capital Management LLC now owns 898,885 shares of the biopharmaceutical company’s stock valued at $2,400,000 after purchasing an additional 244,885 shares in the last quarter. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Stock Performance

Shares of ACHV stock opened at $4.46 on Friday. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $4.55 and a 200-day simple moving average of $3.48. The company has a market cap of $237.41 million, a price-to-earnings ratio of -3.23 and a beta of 1.69. Achieve Life Sciences has a 12-month low of $1.84 and a 12-month high of $5.78.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). On average, equities analysts forecast that Achieve Life Sciences will post -1.17 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.