Achieve Life Sciences (NASDAQ:ACHV) Director Richard Alistair Stewart Sells 20,626 Shares of Stock

Achieve Life Sciences, Inc. (NASDAQ:ACHV) Director Richard Alistair Stewart sold 20,626 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total transaction of $175,114.74. Following the completion of the transaction, the director directly owned 208,249 shares in the company, valued at $1,768,034.01. The trade was a 9.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Achieve Life Sciences Trading Down 0.4%

Shares of ACHV stock opened at $7.99 on Friday. Achieve Life Sciences, Inc. has a 1-year low of $2.62 and a 1-year high of $8.61. The firm has a market cap of $822.17 million, a PE ratio of -5.15 and a beta of 2.24. The company has a 50-day moving average of $6.35 and a two-hundred day moving average of $5.05. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.95.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). On average, analysts predict that Achieve Life Sciences, Inc. will post -0.91 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on ACHV shares. UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Wednesday. Wall Street Zen downgraded Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Raymond James Financial reissued a “strong-buy” rating and set a $18.00 target price on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Finally, Morgan Stanley assumed coverage on Achieve Life Sciences in a report on Thursday, August 13th. They set an “overweight” rating and a $13.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.00.

Institutional Investors Weigh In On Achieve Life Sciences

Several large investors have recently added to or reduced their stakes in ACHV. ADAR1 Capital Management LLC lifted its holdings in Achieve Life Sciences by 10.7% during the 3rd quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 4,627 shares in the last quarter. Manchester Financial Inc. grew its stake 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 worth $195,000 after acquiring an additional 7,138 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Achieve Life Sciences during the second quarter worth $49,000. Bank of America Corp DE increased 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 during the period. Finally, AXQ Capital LP increased its position in shares of Achieve Life Sciences by 65.6% during the second quarter. AXQ Capital LP now owns 25,173 shares of the biopharmaceutical company’s stock worth $164,000 after acquiring an additional 9,972 shares during the period. 33.52% of the stock is 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.