Achieve Life Sciences, Inc. (NASDAQ:ACHV) Stock Rated “Buy” by Sell-Side Brokerages

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have earned an average recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $15.50.

Several equities analysts have recently commented on ACHV shares. Stifel Nicolaus set a $18.00 price target on shares of Achieve Life Sciences and gave the stock a “buy” rating in a research report on Tuesday, September 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. Morgan Stanley assumed coverage on Achieve Life Sciences in a report on Thursday, August 13th. They issued an “overweight” rating and a $13.00 price objective for the company. Wall Street Zen cut Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 12th.

Insider Buying and Selling at Achieve Life Sciences

In other news, Director Richard Stewart sold 20,626 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total value of $175,114.74. Following the completion of the sale, the director directly owned 208,249 shares in the company, valued at approximately $1,768,034.01. The trade was a 9.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Achieve Life Sciences

Hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its stake in Achieve Life Sciences by 92.7% during the third quarter. Fifth Third Bancorp now owns 4,413 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 2,123 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Achieve Life Sciences during the second quarter worth $49,000. SLT Holdings LLC acquired a new stake in shares of Achieve Life Sciences during the third quarter worth $89,000. Magnolia Capital Advisors LLC acquired a new stake in shares of Achieve Life Sciences during the second quarter worth $99,000. Finally, Next Capital Management LLC lifted its position in shares of Achieve Life Sciences by 117.0% in the 1st quarter. Next Capital Management LLC now owns 34,995 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 18,865 shares during the last quarter. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Price Performance

Shares of ACHV stock opened at $6.78 on Tuesday. The firm has a market cap of $697.66 million, a P/E ratio of -4.37 and a beta of 2.42. 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 has a 1-year low of $2.62 and a 1-year high of $8.64. The firm has a fifty day moving average of $7.28 and a two-hundred day moving average of $5.69.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.64). As a group, research analysts anticipate that Achieve Life Sciences will post -0.92 earnings per share for the current fiscal year.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing cytisinicline, a therapy designed to help adults quit smoking and overcome nicotine addiction. Cytisinicline is an oral, plant-based small molecule that partially activates nicotinic acetylcholine receptors, with the goal of reducing nicotine cravings and withdrawal symptoms.

The company has evaluated cytisinicline in clinical studies involving adults who smoke cigarettes, including trials assessing smoking cessation and cessation of electronic cigarette use.