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

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have been given a consensus rating of “Buy” by the six research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $14.6667.

ACHV has been the subject of a number of analyst reports. Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Wall Street Zen raised 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 price target on Achieve Life Sciences and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a report on Thursday, April 16th.

Institutional Investors Weigh In On Achieve Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ADAR1 Capital Management LLC grew its position in shares of Achieve Life Sciences by 10.7% in the third quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 4,627 shares during the period. Manchester Financial Inc. grew its position 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 period. Bank of America Corp DE grew its position 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 period. Robertson Stephens Wealth Management LLC grew 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. Finally, AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences in the first quarter valued at about $32,000. 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 $4.69 on Tuesday. The stock has a market cap of $481.48 million, a PE ratio of -4.19 and a beta of 2.25. The business has a 50-day simple moving average of $4.12 and a 200-day simple moving average of $4.45. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.87. Achieve Life Sciences has a 52-week low of $2.00 and a 52-week high of $6.15.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.11. On average, equities analysts expect that Achieve Life Sciences will post -0.91 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.