Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives Consensus Rating of “Buy” from Analysts

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been given an average recommendation of “Buy” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $16.00.

ACHV has been the subject of a number of recent analyst reports. Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. UBS Group reiterated a “buy” rating on shares of Achieve Life Sciences in a report on Tuesday, June 23rd. Canaccord Genuity Group set a $13.00 price objective on shares of Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th. Wall Street Zen raised shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a report on Monday, June 22nd.

Achieve Life Sciences Stock Performance

NASDAQ ACHV opened at $6.52 on Wednesday. The stock has a market capitalization of $669.34 million, a price-to-earnings ratio of -5.82 and a beta of 2.21. The business’s 50 day moving average is $5.28 and its two-hundred day moving average is $4.67. Achieve Life Sciences has a 12-month low of $2.06 and a 12-month high of $7.11. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.87.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.11. Research analysts expect that Achieve Life Sciences will post -0.81 EPS for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of Achieve Life Sciences by 18,747.4% in the 4th 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 during the period. Hudson Bay Capital Management LP purchased a new stake in Achieve Life Sciences during the second quarter worth $2,652,000. Millennium Management LLC boosted its position in Achieve Life Sciences by 472.3% during the fourth quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after purchasing an additional 1,121,614 shares in the last quarter. Pathstone Holdings LLC acquired a new stake in Achieve Life Sciences in the third quarter valued at $1,581,000. Finally, KVP Capital Advisors LP acquired a new stake in Achieve Life Sciences in the fourth quarter valued at $2,298,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

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.