Jupiter Topco LLC Takes Position in Achieve Life Sciences, Inc. $ACHV

Jupiter Topco LLC purchased a new stake in shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,751,032 shares of the biopharmaceutical company’s stock, valued at approximately $17,964,000.

Other large investors have also recently added to or reduced their stakes in the company. ADAR1 Capital Management LLC raised its holdings in shares of Achieve Life Sciences by 10.7% during the third quarter. ADAR1 Capital Management LLC now owns 47,800 shares of the biopharmaceutical company’s stock worth $151,000 after purchasing an additional 4,627 shares during the period. Manchester Financial Inc. boosted its holdings in shares of Achieve Life Sciences by 12.1% in the 1st quarter. Manchester Financial Inc. now owns 66,222 shares of the biopharmaceutical company’s stock valued at $195,000 after buying an additional 7,138 shares during the period. Legal & General Group Plc acquired a new position in shares of Achieve Life Sciences in the 2nd quarter valued at about $49,000. Bank of America Corp DE grew 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 valued at $76,000 after buying an additional 9,617 shares during the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its position in shares of Achieve Life Sciences by 100.0% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 10,000 shares during the last quarter. 33.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Achieve Life Sciences

In related news, Director Richard Alistair Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total transaction of $175,114.74. Following the sale, the director directly owned 208,249 shares in the company, valued at $1,768,034.01. The trade was a 9.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACHV. Morgan Stanley initiated coverage on shares of Achieve Life Sciences in a report on Thursday, August 13th. They issued an “overweight” rating and a $13.00 target price on the stock. Raymond James Financial reiterated a “strong-buy” rating and set a $18.00 price target on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. UBS Group reissued a “buy” rating on shares of Achieve Life Sciences in a report on Wednesday, August 12th. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $15.00.

Achieve Life Sciences Stock Down 1.0%

ACHV opened at $8.10 on Friday. Achieve Life Sciences, Inc. has a 12 month low of $2.62 and a 12 month high of $8.61. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $833.49 million, a P/E ratio of -5.23 and a beta of 2.24. The stock’s 50 day moving average price is $6.64 and its 200 day moving average price is $5.19.

Achieve Life Sciences (NASDAQ:ACHV) last announced its quarterly earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.64). As a group, research analysts predict that Achieve Life Sciences, Inc. will post -0.91 earnings per share for the current year.

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.