Achieve Life Sciences, Inc. (NASDAQ:ACHV) Given Average Rating of “Buy” by Brokerages

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been assigned a consensus recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and two have given 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 $14.6667.

ACHV has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research note on Thursday, April 16th. Canaccord Genuity Group set a $13.00 price objective on Achieve Life Sciences and gave the stock a “buy” rating in a report on Monday, April 20th. Weiss Ratings upgraded Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Finally, Wall Street Zen upgraded Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th.

Achieve Life Sciences Price Performance

Shares of Achieve Life Sciences stock opened at $4.85 on Friday. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.87. Achieve Life Sciences has a twelve month low of $2.00 and a twelve month high of $6.16. The business has a 50-day moving average price of $4.81 and a 200 day moving average price of $4.55. The firm has a market cap of $497.90 million, a PE ratio of -4.33 and a beta of 2.27.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.11. Sell-side analysts predict that Achieve Life Sciences will post -0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Achieve Life Sciences

Several institutional investors have recently bought and sold shares of the company. ADAR1 Capital Management LLC boosted its holdings in Achieve Life Sciences by 10.7% in the 3rd quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 4,627 shares during the last quarter. Manchester Financial Inc. boosted its holdings in Achieve Life Sciences by 12.1% in the 1st quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock worth $195,000 after buying an additional 7,138 shares during the last quarter. 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 last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in Achieve Life Sciences by 100.0% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 10,000 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Achieve Life Sciences in the 1st quarter worth about $32,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.