Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives $16.00 Consensus Target Price from Analysts

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have earned a consensus recommendation of “Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.00.

Several equities analysts recently weighed in on ACHV shares. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a research report on Monday, June 22nd. Canaccord Genuity Group set a $13.00 target price on shares of Achieve Life Sciences and gave the stock a “buy” rating in a research report on Monday, April 20th. UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a research note on Tuesday, June 23rd. Wall Street Zen upgraded shares of Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Raymond James Financial assumed coverage on shares of Achieve Life Sciences in a report on Friday, June 26th. They set a “strong-buy” rating and a $20.00 price target on the stock.

Achieve Life Sciences Stock Performance

Shares of ACHV stock opened at $6.31 on Wednesday. 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 has a fifty-two week low of $2.37 and a fifty-two week high of $7.11. The stock’s 50-day moving average is $5.48 and its two-hundred day moving average is $4.73. The firm has a market cap of $647.78 million, a P/E ratio of -5.63 and a beta of 2.21.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.11. Analysts predict that Achieve Life Sciences will post -0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

Several institutional investors have recently bought and sold shares of ACHV. Bank of America Corp DE boosted its stake in shares of Achieve Life Sciences by 193.9% during the 1st quarter. Bank of America Corp DE now owns 70,684 shares of the biopharmaceutical company’s stock worth $208,000 after acquiring an additional 46,630 shares in the last quarter. Next Capital Management LLC raised its stake 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 valued at $103,000 after acquiring an additional 18,865 shares in the last quarter. Manchester Financial Inc. raised its stake in shares of Achieve Life Sciences by 12.1% in the 1st quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock valued at $195,000 after acquiring an additional 7,138 shares in the last quarter. Alpine Global Management LLC bought a new position in shares of Achieve Life Sciences in the 4th quarter valued at approximately $415,000. Finally, KVP Capital Advisors LP acquired a new stake in Achieve Life Sciences in the 4th quarter worth approximately $2,298,000. 33.52% of the stock is currently owned by 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.