Achieve Life Sciences (NASDAQ:ACHV) Stock Price Up 8.1% – Here’s What Happened

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price traded up 8.1% during trading on Monday . The company traded as high as $5.20 and last traded at $5.2450. 424,141 shares were traded during trading, a decline of 62% from the average daily volume of 1,114,316 shares. The stock had previously closed at $4.85.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. 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. Weiss Ratings upgraded shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 22nd. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Achieve Life Sciences in a research report on Monday. Finally, Canaccord Genuity Group set a $13.00 price target on Achieve Life Sciences and gave the stock a “buy” rating in a research report on Monday, April 20th. 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.com, the company has an average rating of “Buy” and a consensus target price of $14.67.

Achieve Life Sciences Stock Up 5.9%

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 market capitalization of $527.16 million, a price-to-earnings ratio of -4.57 and a beta of 2.27. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.87.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACHV. AQR Capital Management LLC acquired a new position in Achieve Life Sciences in the 1st quarter valued at approximately $32,000. Magnolia Capital Advisors LLC bought a new position in shares of Achieve Life Sciences during the 4th quarter worth approximately $64,000. Jefferies Financial Group Inc. acquired a new stake in Achieve Life Sciences in the fourth quarter worth $84,000. HRT Financial LP bought a new stake in Achieve Life Sciences in the fourth quarter valued at $93,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Achieve Life Sciences in the third quarter valued at $63,000. 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.