Achieve Life Sciences (NASDAQ:ACHV) Shares Up 9.3% – Should You Buy?

Achieve Life Sciences, Inc. (NASDAQ:ACHV) traded up 9.3% on Thursday . The company traded as high as $5.50 and last traded at $5.38. 725,384 shares were traded during trading, a decline of 29% from the average session volume of 1,027,760 shares. The stock had previously closed at $4.92.

Wall Street Analyst Weigh In

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

Achieve Life Sciences Price Performance

The business’s 50-day simple moving average is $4.24 and its 200-day simple moving average is $4.47. The stock has a market cap of $544.61 million, a PE ratio of -4.73 and a beta of 2.27. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.87.

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

Hedge Funds Weigh In On Achieve Life Sciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its holdings in shares of Achieve Life Sciences by 18,747.4% during the 4th quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company’s stock worth $21,715,000 after acquiring an additional 4,346,011 shares during the period. Vanguard Group Inc. grew its position in shares of Achieve Life Sciences by 14.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,461,802 shares of the biopharmaceutical company’s stock worth $7,755,000 after buying an additional 311,925 shares during the period. Millennium Management LLC increased its stake in shares of Achieve Life Sciences by 472.3% in the 4th quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after acquiring an additional 1,121,614 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Achieve Life Sciences in the 2nd quarter worth about $2,652,000. Finally, Marshall Wace LLP lifted its position in Achieve Life Sciences by 31.5% during the 4th quarter. Marshall Wace LLP now owns 1,019,281 shares of the biopharmaceutical company’s stock valued at $5,066,000 after acquiring an additional 244,428 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.