Achieve Life Sciences (NASDAQ:ACHV) Given “Buy” Rating at HC Wainwright

Achieve Life Sciences (NASDAQ:ACHV)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $12.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 125.14% from the company’s previous close.

Several other equities analysts also recently weighed in on ACHV. Weiss Ratings upgraded Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Canaccord Genuity Group set a $13.00 price target on Achieve Life Sciences and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.67.

Achieve Life Sciences Stock Performance

Shares of ACHV traded up $0.48 during mid-day trading on Monday, reaching $5.33. The company had a trading volume of 1,209,801 shares, compared to its average volume of 1,122,220. The stock has a market capitalization of $547.18 million, a P/E ratio of -4.79 and a beta of 2.27. Achieve Life Sciences has a 52-week low of $2.00 and a 52-week high of $6.16. The stock has a 50 day moving average of $4.81 and a two-hundred day moving average of $4.55. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.87.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.11. On average, 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 hedge funds have recently modified their holdings of ACHV. AQR Capital Management LLC acquired a new stake in shares of Achieve Life Sciences during the first quarter valued at about $32,000. Magnolia Capital Advisors LLC acquired a new stake in Achieve Life Sciences in the 4th quarter valued at approximately $64,000. Jefferies Financial Group Inc. acquired a new stake in Achieve Life Sciences in the 4th quarter valued at approximately $84,000. HRT Financial LP purchased a new stake in Achieve Life Sciences in the fourth quarter valued at approximately $93,000. Finally, OneDigital Investment Advisors LLC purchased a new stake in Achieve Life Sciences in the third quarter valued at approximately $63,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

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.