Maxim Group Begins Coverage on Achieve Life Sciences (NASDAQ:ACHV)

Maxim Group began coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research report sent to investors on Friday, Stock Target Advisor reports. The brokerage issued a buy rating and a $21.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on the company. ValuEngine lowered Achieve Life Sciences from a buy rating to a hold rating in a research note on Saturday, August 1st. LADENBURG THALM/SH SH restated a buy rating and issued a $100.00 target price on shares of Achieve Life Sciences in a research note on Friday, August 7th. Finally, Lake Street Capital began coverage on Achieve Life Sciences in a research note on Thursday. They issued a buy rating and a $30.00 target price on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $47.75.

Shares of NASDAQ:ACHV opened at $10.23 on Friday. The stock has a market cap of $36.73 million, a price-to-earnings ratio of -0.54 and a beta of 1.86. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.01. Achieve Life Sciences has a 12-month low of $4.51 and a 12-month high of $48.60. The business’s 50 day moving average is $9.30 and its 200 day moving average is $8.32.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($1.68) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.80) by $2.12. As a group, equities research analysts expect that Achieve Life Sciences will post -8.18 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. UBS Group AG boosted its stake in Achieve Life Sciences by 413.2% during the 1st quarter. UBS Group AG now owns 78,595 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 63,280 shares during the last quarter. Requisite Capital Management LLC purchased a new stake in Achieve Life Sciences during the 2nd quarter valued at $397,000. Finally, Ikarian Capital LLC purchased a new stake in Achieve Life Sciences during the 2nd quarter valued at $1,452,000.

About Achieve Life Sciences

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes smoking cessation aids in the United States and internationally. The company offers Cytisine, a plant-based alkaloid that interacts with nicotine receptors in the brain to help reduce the severity of nicotine withdrawal symptoms.

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