Analysts Set Achieve Life Sciences, Inc. (NASDAQ:ACHV) PT at $15.50

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.50.

Several brokerages have recently issued reports on ACHV. Raymond James Financial restated a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday, November 24th. Citizens Jmp assumed coverage on Achieve Life Sciences in a research report on Tuesday, November 25th. They issued a “market outperform” rating and a $19.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Monday, December 29th. Finally, Citigroup initiated coverage on Achieve Life Sciences in a report on Tuesday, November 25th. They issued an “outperform” rating for the company.

Institutional Investors Weigh In On Achieve Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. lifted its holdings in shares of Achieve Life Sciences by 81.3% in the second quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock worth $10,077,000 after buying an additional 2,000,079 shares in the last quarter. Simplify Asset Management Inc. increased its holdings in Achieve Life Sciences by 443.7% during the 2nd quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock worth $2,677,000 after acquiring an additional 966,667 shares during the period. Stonepine Capital Management LLC purchased a new stake in Achieve Life Sciences in the 2nd quarter worth approximately $753,000. Highbridge Capital Management LLC bought a new position in Achieve Life Sciences in the 2nd quarter valued at $300,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Achieve Life Sciences during the 2nd quarter valued at $263,000. Institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Stock Up 1.7%

ACHV stock opened at $4.20 on Friday. The stock has a market cap of $223.57 million, a P/E ratio of -3.04 and a beta of 1.82. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $4.77 and its two-hundred day simple moving average is $4.02. Achieve Life Sciences has a 1-year low of $1.84 and a 1-year high of $6.03.

About Achieve Life Sciences

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.