Achieve Life Sciences (NASDAQ:ACHV) Rating Increased to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Achieve Life Sciences (NASDAQ:ACHV) to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

ACHV has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research note on Thursday, April 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Achieve Life Sciences presently has an average rating of “Buy” and an average price target of $14.67.

Achieve Life Sciences Stock Down 2.4%

ACHV stock traded down $0.10 during midday trading on Monday, hitting $4.11. The company’s stock had a trading volume of 235,235 shares, compared to its average volume of 927,996. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.39 and a quick ratio of 4.39. Achieve Life Sciences has a twelve month low of $2.00 and a twelve month high of $6.03. The company’s fifty day moving average price is $3.93 and its 200 day moving average price is $4.37. The stock has a market capitalization of $218.67 million, a P/E ratio of -3.13 and a beta of 1.96.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings results on Tuesday, March 24th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). As a group, equities research analysts predict that Achieve Life Sciences will post -1.34 EPS for the current year.

Institutional Investors Weigh In On Achieve Life Sciences

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC acquired a new position in Achieve Life Sciences in the 1st quarter valued at about $32,000. Qube Research & Technologies Ltd acquired a new position in Achieve Life Sciences in the 2nd quarter valued at about $232,000. Raymond James Financial Inc. grew its stake in Achieve Life Sciences by 57.1% in the 2nd quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock valued at $667,000 after buying an additional 107,218 shares during the last quarter. Jane Street Group LLC acquired a new position in Achieve Life Sciences in the 2nd quarter valued at about $159,000. Finally, Bank of America Corp DE grew its stake 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 valued at $76,000 after buying an additional 9,617 shares during the last quarter. Institutional investors own 33.52% of the company’s stock.

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.