Achieve Life Sciences (NASDAQ:ACHV) Shares Down 6.8% – Should You Sell?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares fell 6.8% during mid-day trading on Thursday . The stock traded as low as $5.08 and last traded at $4.9950. 343,832 shares traded hands during trading, a decline of 68% from the average session volume of 1,062,662 shares. The stock had previously closed at $5.36.

Analyst Ratings Changes

Several research firms have recently issued reports on ACHV. Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Canaccord Genuity Group set a $13.00 target price on Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Achieve Life Sciences in a research note on Thursday, April 16th. Finally, Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $14.67.

Achieve Life Sciences Stock Performance

The company has a market capitalization of $503.54 million, a PE ratio of -4.38 and a beta of 2.27. The company has a 50 day moving average of $4.74 and a two-hundred day moving average of $4.55. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.11. As a group, equities research analysts predict that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in Achieve Life Sciences by 18,747.4% in the fourth quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company’s stock worth $21,715,000 after acquiring an additional 4,346,011 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Achieve Life Sciences in the second quarter worth $2,652,000. Millennium Management LLC boosted its holdings in Achieve Life Sciences by 472.3% in the fourth quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after acquiring an additional 1,121,614 shares in the last quarter. Pathstone Holdings LLC bought a new stake in Achieve Life Sciences in the third quarter worth $1,581,000. Finally, KVP Capital Advisors LP bought a new stake in Achieve Life Sciences in the fourth quarter worth $2,298,000. 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.