Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives Average Rating of “Buy” from Analysts

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have been assigned an average rating of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $14.6667.

Several analysts recently commented on ACHV shares. Canaccord Genuity Group set a $13.00 price target on shares of Achieve Life Sciences and gave the company a “buy” rating in a research report on Monday, April 20th. Weiss Ratings downgraded shares of Achieve Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research report on Thursday, April 16th. Finally, Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday.

Achieve Life Sciences Stock Down 9.8%

ACHV stock opened at $4.77 on Tuesday. The company has a fifty day moving average price of $4.08 and a 200 day moving average price of $4.47. Achieve Life Sciences has a 12 month low of $2.00 and a 12 month high of $6.15. The company has a market cap of $253.91 million, a price-to-earnings ratio of -4.26 and a beta of 2.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.11. Sell-side analysts expect that Achieve Life Sciences will post -0.91 earnings per share for the current year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of large investors have recently bought and sold shares of the company. ADAR1 Capital Management LLC raised its position in Achieve Life Sciences by 10.7% during the 3rd quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 4,627 shares during the last quarter. Manchester Financial Inc. raised its position in Achieve Life Sciences by 12.1% during the 1st quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock worth $195,000 after buying an additional 7,138 shares during the last quarter. Bank of America Corp DE raised its position in Achieve Life Sciences by 39.9% during the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock worth $76,000 after buying an additional 9,617 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its position in Achieve Life Sciences by 100.0% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 10,000 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new position in Achieve Life Sciences during the 1st quarter worth $32,000. Hedge funds and other institutional investors own 33.52% of the company’s stock.

About Achieve Life Sciences

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.