Achieve Life Sciences (NASDAQ:ACHV) Stock Rating Upgraded by Canaccord Genuity Group

Achieve Life Sciences (NASDAQ:ACHV) was upgraded by equities research analysts at Canaccord Genuity Group to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on ACHV. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Achieve Life Sciences in a research report on Thursday, April 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $14.67.

Achieve Life Sciences Trading Down 0.9%

NASDAQ ACHV opened at $4.21 on Monday. The firm has a market cap of $224.10 million, a P/E ratio of -3.24 and a beta of 1.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.39 and a quick ratio of 4.39. The stock’s 50-day moving average is $3.93 and its 200-day moving average is $4.37. Achieve Life Sciences has a one year low of $2.00 and a one year high of $6.03.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings results on Tuesday, March 24th. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Sell-side analysts anticipate that Achieve Life Sciences will post -1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Achieve Life Sciences

A number of hedge funds and other institutional investors have recently bought and sold shares of ACHV. AQR Capital Management LLC acquired a new stake in Achieve Life Sciences in the 1st quarter valued at approximately $32,000. Qube Research & Technologies Ltd acquired a new position in shares of Achieve Life Sciences during the 2nd quarter worth approximately $232,000. Raymond James Financial Inc. increased its position in shares of Achieve Life Sciences by 57.1% during the 2nd quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock worth $667,000 after purchasing an additional 107,218 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Achieve Life Sciences during the 2nd quarter worth approximately $159,000. Finally, Bank of America Corp DE increased its position in shares of Achieve Life Sciences by 39.9% during the 2nd quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 9,617 shares during the last quarter. Institutional investors and hedge funds own 33.52% of the company’s stock.

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.