683 Capital Management LLC Makes New $1.07 Million Investment in Achieve Life Sciences, Inc. $ACHV

683 Capital Management LLC acquired a new position in Achieve Life Sciences, Inc. (NASDAQ:ACHV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 214,897 shares of the biopharmaceutical company’s stock, valued at approximately $1,068,000. 683 Capital Management LLC owned about 0.40% of Achieve Life Sciences at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ACHV. AQR Capital Management LLC bought a new position in Achieve Life Sciences during the first quarter valued at $32,000. Magnolia Capital Advisors LLC bought a new position in Achieve Life Sciences during the fourth quarter valued at $64,000. Jefferies Financial Group Inc. bought a new position in Achieve Life Sciences during the fourth quarter valued at $84,000. HRT Financial LP bought a new position in Achieve Life Sciences during the fourth quarter valued at $93,000. Finally, Robertson Stephens Wealth Management LLC grew its holdings in Achieve Life Sciences by 100.0% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $99,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Trading Down 3.4%

NASDAQ:ACHV opened at $5.36 on Thursday. The company has a market cap of $550.25 million, a P/E ratio of -4.79 and a beta of 2.27. The stock’s fifty day moving average price is $4.74 and its two-hundred day moving average price is $4.55. Achieve Life Sciences, Inc. has a 1 year low of $2.00 and a 1 year high of $6.16. 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 posted its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.11. As a group, analysts expect that Achieve Life Sciences, Inc. will post -0.91 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ACHV shares. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a report on Thursday, April 16th. Canaccord Genuity Group set a $13.00 price objective on Achieve Life Sciences and gave the company a “buy” rating in a report on Monday, April 20th. Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Achieve Life Sciences currently has an average rating of “Buy” and a consensus price target of $14.67.

Achieve Life Sciences Company Profile

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.