Achieve Life Sciences, Inc. (NASDAQ:ACHV) Stock Has Average Price Target of $15.00 According to Brokerages

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have received an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $15.00.

ACHV has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Wednesday, August 19th. Raymond James Financial reissued a “strong-buy” rating and issued a $18.00 price objective on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Finally, UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a report on Wednesday, August 12th.

Insider Activity at Achieve Life Sciences

In other news, Director Richard Stewart sold 20,626 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total value of $175,114.74. Following the completion of the sale, the director directly owned 208,249 shares in the company, valued at $1,768,034.01. This trade represents a 9.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACHV. Legal & General Group Plc acquired a new stake in Achieve Life Sciences in the second quarter valued at approximately $49,000. Jefferies Financial Group Inc. acquired a new position in shares of Achieve Life Sciences during the fourth quarter worth approximately $84,000. Magnolia Capital Advisors LLC acquired a new position in shares of Achieve Life Sciences during the second quarter worth approximately $99,000. Next Capital Management LLC lifted its holdings in shares of Achieve Life Sciences by 117.0% in the 1st quarter. Next Capital Management LLC now owns 34,995 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 18,865 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Achieve Life Sciences in the 2nd quarter worth $135,000. 33.52% of the stock is owned by institutional investors and hedge funds.

Achieve Life Sciences Price Performance

Achieve Life Sciences stock opened at $7.54 on Monday. The firm has a market cap of $775.87 million, a price-to-earnings ratio of -4.86 and a beta of 2.25. Achieve Life Sciences has a 52-week low of $2.62 and a 52-week high of $8.64. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $7.35 and a two-hundred day moving average price of $5.69.

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

About Achieve Life Sciences

Achieve Life Sciences, Inc is a clinical-stage pharmaceutical company focused on developing and commercializing cytisinicline, an investigational therapy designed to help adults stop smoking and address nicotine dependence. The company is listed on the Nasdaq Capital Market under the symbol ACHV.

Cytisinicline is a plant-derived small molecule that acts on neuronal nicotinic acetylcholine receptors involved in nicotine addiction. Achieve is evaluating the therapy in clinical studies for smoking cessation and potential support for quitting other forms of nicotine use.