Achieve Life Sciences (NASDAQ:ACHV) Shares Down 6.8% – What’s Next?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) shares were down 6.8% during trading on Thursday . The company traded as low as $5.08 and last traded at $4.9950. 343,832 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,062,662 shares. The stock had previously closed at $5.36.

Wall Street Analyst Weigh In

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

Achieve Life Sciences Stock Performance

The firm’s 50 day moving average price is $4.81 and its 200-day moving average price is $4.55. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.62 and a current ratio of 2.62. The firm has a market capitalization of $497.90 million, a PE ratio of -4.33 and a beta of 2.27.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.11. On average, research analysts expect that Achieve Life Sciences, Inc. will post -0.91 EPS for the current year.

Institutional Trading of Achieve Life Sciences

A number of institutional investors and hedge funds have recently made changes to their positions in ACHV. AQR Capital Management LLC purchased a new position in shares of Achieve Life Sciences during the 1st quarter valued at approximately $32,000. Sender Co & Partners Inc. purchased a new stake in Achieve Life Sciences in the 2nd quarter worth $56,000. OneDigital Investment Advisors LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter worth $63,000. Magnolia Capital Advisors LLC purchased a new stake in Achieve Life Sciences in the 4th quarter worth $64,000. Finally, Bank of America Corp DE raised its position in Achieve Life Sciences by 39.9% during the second 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. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

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.