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

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has earned an average rating of “Buy” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $16.00.

Several brokerages have issued reports on ACHV. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a research report on Monday, June 22nd. Raymond James Financial assumed coverage on shares of Achieve Life Sciences in a report on Friday, June 26th. They issued a “strong-buy” rating and a $20.00 target price for the company. 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 note on Monday, April 20th. Weiss Ratings upgraded Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Achieve Life Sciences in a research note on Tuesday, June 23rd.

Achieve Life Sciences Stock Up 1.1%

Shares of NASDAQ:ACHV opened at $6.52 on Wednesday. The firm has a 50 day simple moving average of $5.28 and a 200-day simple moving average of $4.67. Achieve Life Sciences has a twelve month low of $2.06 and a twelve month high of $7.11. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $669.34 million, a PE ratio of -5.82 and a beta of 2.21.

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

Institutional Investors Weigh In On Achieve Life Sciences

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new position in Achieve Life Sciences in the 1st quarter valued at $32,000. Magnolia Capital Advisors LLC acquired a new position in Achieve Life Sciences in the 4th quarter valued at $64,000. Jefferies Financial Group Inc. purchased a new position in Achieve Life Sciences during the 4th quarter worth $84,000. HRT Financial LP purchased a new position in Achieve Life Sciences during the 4th quarter worth $93,000. Finally, Robertson Stephens Wealth Management LLC lifted its stake in shares of Achieve Life Sciences by 100.0% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock worth $99,000 after acquiring 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 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.