Wellington Management Group LLP Buys New Stake in Achieve Life Sciences, Inc. $ACHV

Wellington Management Group LLP purchased a new position in shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,426,915 shares of the biopharmaceutical company’s stock, valued at approximately $9,318,000. Wellington Management Group LLP owned approximately 1.39% of Achieve Life Sciences at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Spruce Street Capital LP acquired a new stake in shares of Achieve Life Sciences during the second quarter worth about $4,810,240. venBio Partners LLC acquired a new stake in shares of Achieve Life Sciences in the 2nd quarter valued at about $38,623,122. Deutsche Bank AG purchased a new position in Achieve Life Sciences during the 2nd quarter worth approximately $506,000. BlackRock Inc. acquired a new position in Achieve Life Sciences during the second quarter worth approximately $34,426,000. Finally, Jupiter Topco LLC acquired a new position in Achieve Life Sciences during the second quarter worth approximately $17,964,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ACHV. Wall Street Zen downgraded Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Raymond James Financial reiterated a “strong-buy” rating and issued a $18.00 price target on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Morgan Stanley assumed coverage on shares of Achieve Life Sciences in a research note on Thursday, August 13th. They set an “overweight” rating and a $13.00 price target for the company. UBS Group reissued a “buy” rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $15.00.

Insider Activity at Achieve Life Sciences

In other news, Director Richard Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total value of $175,114.74. Following the sale, the director owned 208,249 shares of the company’s stock, valued at $1,768,034.01. The trade was a 9.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Achieve Life Sciences Price Performance

Achieve Life Sciences stock opened at $7.84 on Wednesday. Achieve Life Sciences, Inc. has a 12 month low of $2.62 and a 12 month high of $8.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $7.00 and a 200-day simple moving average of $5.39. The stock has a market capitalization of $806.75 million, a PE ratio of -5.06 and a beta of 2.25.

Achieve Life Sciences (NASDAQ:ACHV) last posted its quarterly earnings data on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). Equities analysts predict that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current year.

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.