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

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been assigned an average rating of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $15.50.

Several brokerages have recently weighed in on ACHV. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Monday, December 29th. Citizens Jmp began coverage on shares of Achieve Life Sciences in a research report on Tuesday, November 25th. They issued a “market outperform” rating and a $19.00 price target for the company. Raymond James Financial restated a “strong-buy” rating on shares of Achieve Life Sciences in a research note on Monday, November 24th. Finally, Citigroup started coverage on Achieve Life Sciences in a research report on Tuesday, November 25th. They set an “outperform” rating on the stock.

Achieve Life Sciences Price Performance

Shares of NASDAQ ACHV opened at $4.25 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.14 and a current ratio of 5.14. Achieve Life Sciences has a fifty-two week low of $1.84 and a fifty-two week high of $6.03. The firm has a market capitalization of $226.23 million, a PE ratio of -3.08 and a beta of 1.82. The stock’s 50-day simple moving average is $4.82 and its 200-day simple moving average is $3.96.

Achieve Life Sciences (NASDAQ:ACHV) last announced 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). As a group, equities research analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of hedge funds have recently modified their holdings of the business. ADAR1 Capital Management LLC grew its position in Achieve Life Sciences by 10.7% in the 3rd quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 4,627 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of 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 worth $76,000 after acquiring an additional 9,617 shares during the period. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Achieve Life Sciences by 100.0% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 10,000 shares in the last quarter. AQR Capital Management LLC acquired a new position in shares of Achieve Life Sciences during the first quarter worth about $32,000. Finally, Next Capital Management LLC acquired a new position in shares of Achieve Life Sciences during the third quarter worth about $51,000. 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.