Brokerages Set Achieve Life Sciences, Inc. (NASDAQ:ACHV) Price Target at $15.50

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $15.50.

ACHV has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Friday, March 27th. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Achieve Life Sciences in a research note on Wednesday, March 25th.

Hedge Funds Weigh In On Achieve Life Sciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHV. Franklin Resources Inc. lifted its holdings in shares of Achieve Life Sciences by 81.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock valued at $10,077,000 after buying an additional 2,000,079 shares during the period. Stonepine Capital Management LLC acquired a new position in Achieve Life Sciences during the second quarter worth $753,000. Brevan Howard Capital Management LP purchased a new position in Achieve Life Sciences in the second quarter worth $145,000. Jump Financial LLC purchased a new position in Achieve Life Sciences in the fourth quarter worth $104,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in Achieve Life Sciences in the fourth quarter valued at $99,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

Achieve Life Sciences Stock Performance

NASDAQ:ACHV opened at $3.23 on Monday. Achieve Life Sciences has a 12-month low of $1.84 and a 12-month high of $6.03. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $4.06 and its 200-day simple moving average is $4.28. The firm has a market cap of $171.93 million, a P/E ratio of -2.48 and a beta of 1.96.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings results on Tuesday, March 24th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Equities analysts anticipate that Achieve Life Sciences will post -1.17 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.