Achieve Life Sciences (NASDAQ:ACHV) Research Coverage Started at Citizens Jmp

Citizens Jmp assumed coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a research report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a market outperform rating and a $19.00 price objective on the biopharmaceutical company’s stock.

ACHV has been the topic of several other reports. Citigroup started coverage on shares of Achieve Life Sciences in a research report on Tuesday. They issued an “outperform” rating on the stock. HC Wainwright began coverage on shares of Achieve Life Sciences in a report on Thursday, August 21st. They issued a “buy” rating and a $12.00 price target on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Achieve Life Sciences has an average rating of “Moderate Buy” and an average target price of $15.50.

Achieve Life Sciences Stock Performance

Achieve Life Sciences stock opened at $4.84 on Tuesday. The stock has a fifty day moving average price of $4.05 and a 200 day moving average price of $3.31. Achieve Life Sciences has a 52 week low of $1.84 and a 52 week high of $5.78. The firm has a market capitalization of $257.65 million, a P/E ratio of -3.32 and a beta of 1.62. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.21.

Achieve Life Sciences (NASDAQ:ACHV) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.04). Equities research analysts anticipate that Achieve Life Sciences will post -1.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Richard Alistair Stewart sold 129,501 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $2.92, for a total value of $378,142.92. Following the completion of the sale, the chief executive officer owned 228,875 shares of the company’s stock, valued at $668,315. This represents a 36.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jaime Xinos sold 20,854 shares of Achieve Life Sciences stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $2.77, for a total transaction of $57,765.58. Following the transaction, the insider owned 74,432 shares in the company, valued at $206,176.64. The trade was a 21.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 381,972 shares of company stock valued at $1,084,997. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in shares of Achieve Life Sciences by 81.3% in the second quarter. Franklin Resources Inc. now owns 4,459,014 shares of the biopharmaceutical company’s stock valued at $10,077,000 after buying an additional 2,000,079 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in Achieve Life Sciences in the second quarter valued at approximately $2,652,000. Simplify Asset Management Inc. grew its position in Achieve Life Sciences by 443.7% in the second quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock valued at $2,677,000 after acquiring an additional 966,667 shares in the last quarter. Pathstone Holdings LLC purchased a new stake in shares of Achieve Life Sciences during the third quarter valued at approximately $1,581,000. Finally, Two Sigma Investments LP acquired a new position in shares of Achieve Life Sciences during the third quarter worth $1,383,000. Institutional investors and hedge funds own 33.52% of the company’s stock.

About Achieve Life Sciences

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.