Achieve Life Sciences (NASDAQ:ACHV) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Achieve Life Sciences (NASDAQ:ACHV) from a hold rating to a strong sell rating in a research note issued to investors on Saturday.

Several other research firms have also recently weighed in on ACHV. UBS Group reissued a “buy” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Weiss Ratings raised shares of 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 shares of Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th. Morgan Stanley started coverage on shares of Achieve Life Sciences in a research note on Thursday. They issued an “overweight” rating and a $13.00 price target for the company. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $18.00 price objective on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.00.

Achieve Life Sciences Stock Performance

ACHV opened at $7.50 on Friday. The business’s 50-day simple moving average is $6.16 and its 200 day simple moving average is $4.95. Achieve Life Sciences has a 52-week low of $2.55 and a 52-week high of $7.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $771.75 million, a PE ratio of -4.84 and a beta of 2.24.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). As a group, sell-side analysts expect that Achieve Life Sciences will post -0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. ADAR1 Capital Management LLC raised its stake in Achieve Life Sciences by 10.7% in the 3rd quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock valued at $151,000 after acquiring an additional 4,627 shares during the period. Manchester Financial Inc. increased its holdings in shares of Achieve Life Sciences by 12.1% in the first quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock valued at $195,000 after purchasing an additional 7,138 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Achieve Life Sciences in the second quarter valued at $49,000. Bank of America Corp DE increased its holdings in shares of Achieve Life Sciences by 39.9% in the second 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. Finally, Robertson Stephens Wealth Management LLC raised its position in shares of Achieve Life Sciences by 100.0% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 10,000 shares during the period. 33.52% of the stock is owned by institutional investors and hedge funds.

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.