HC Wainwright Issues Pessimistic Forecast for ACHV Earnings

Achieve Life Sciences, Inc. (NASDAQ:ACHV) – Investment analysts at HC Wainwright cut their FY2028 earnings per share (EPS) estimates for shares of Achieve Life Sciences in a research note issued on Tuesday, August 11th. HC Wainwright analyst B. Folkes now forecasts that the biopharmaceutical company will earn $0.23 per share for the year, down from their prior forecast of $0.24. HC Wainwright has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for Achieve Life Sciences’ current full-year earnings is ($0.81) per share. HC Wainwright also issued estimates for Achieve Life Sciences’ FY2029 earnings at $0.97 EPS and FY2030 earnings at $1.47 EPS.

Achieve Life Sciences (NASDAQ:ACHV) last released its earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64).

ACHV has been the topic of several other research reports. Wall Street Zen raised shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Raymond James Financial initiated coverage on shares of Achieve Life Sciences in a research report on Friday, June 26th. They set a “strong-buy” rating and a $20.00 target price for the company. Weiss Ratings upgraded shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. UBS Group reaffirmed a “buy” rating on shares of Achieve Life Sciences in a report on Tuesday, June 23rd. Finally, Canaccord Genuity Group set a $13.00 price objective on Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $16.00.

Achieve Life Sciences Price Performance

ACHV opened at $6.77 on Wednesday. The firm has a market cap of $695.01 million, a P/E ratio of -6.04 and a beta of 2.24. The firm has a 50-day moving average of $6.00 and a 200 day moving average of $4.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.62 and a current ratio of 2.62. Achieve Life Sciences has a fifty-two week low of $2.37 and a fifty-two week high of $7.11.

Institutional Investors Weigh In On Achieve Life Sciences

Several institutional investors have recently added to or reduced their stakes in ACHV. AQR Capital Management LLC bought a new position in Achieve Life Sciences during the first quarter worth about $32,000. Sender Co & Partners Inc. bought a new stake in shares of Achieve Life Sciences in the second quarter valued at approximately $56,000. Magnolia Capital Advisors LLC purchased a new stake in shares of Achieve Life Sciences during the 4th quarter valued at approximately $64,000. Bank of America Corp DE boosted its holdings in Achieve Life Sciences by 39.9% in the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 9,617 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in Achieve Life Sciences in the 4th quarter worth approximately $84,000. 33.52% of the stock is owned by hedge funds and other institutional investors.

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.