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

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $15.50.

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

Achieve Life Sciences Trading Up 4.3%

NASDAQ ACHV opened at $5.83 on Wednesday. Achieve Life Sciences has a one year low of $1.84 and a one year high of $6.03. The business’s fifty day moving average is $4.73 and its 200-day moving average is $3.73. The stock has a market capitalization of $310.33 million, a price-to-earnings ratio of -4.22 and a beta of 1.71. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.14 and a quick ratio of 5.14.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Equities research analysts predict that Achieve Life Sciences will post -1.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in Achieve Life Sciences by 81.3% during the second quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock valued at $10,077,000 after purchasing an additional 2,000,079 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Achieve Life Sciences by 14.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,461,802 shares of the biopharmaceutical company’s stock worth $7,755,000 after buying an additional 311,925 shares during the last quarter. Simplify Asset Management Inc. boosted its holdings in shares of Achieve Life Sciences by 443.7% in the 2nd quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock worth $2,677,000 after purchasing an additional 966,667 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Achieve Life Sciences during the 2nd quarter valued at about $2,652,000. Finally, Pathstone Holdings LLC bought a new position in shares of Achieve Life Sciences during the 3rd quarter valued at about $1,581,000. 33.52% of the stock is currently owned by institutional investors.

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.