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

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $15.00.

ACHV has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Raymond James Financial reiterated a “strong-buy” rating and issued a $18.00 price target on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Morgan Stanley initiated coverage on shares of Achieve Life Sciences in a research report on Thursday, August 13th. They set an “overweight” rating and a $13.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. Finally, Wall Street Zen cut Achieve Life Sciences from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th.

Insider Activity

In related news, Director Richard Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total transaction of $175,114.74. Following the completion of the transaction, the director owned 208,249 shares in the company, valued at approximately $1,768,034.01. This trade represents a 9.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Achieve Life Sciences

A number of large investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. bought a new position in Achieve Life Sciences during the 2nd quarter worth $49,725,000. venBio Partners LLC bought a new stake in shares of Achieve Life Sciences in the second quarter valued at about $38,623,122. Spruce Street Capital LP bought a new stake in shares of Achieve Life Sciences in the second quarter valued at about $4,810,240. Bank of New York Mellon Corp acquired a new position in shares of Achieve Life Sciences in the second quarter valued at about $1,424,000. Finally, Wellington Management Group LLP acquired a new position in shares of Achieve Life Sciences in the second quarter valued at about $9,318,000. Institutional investors own 33.52% of the company’s stock.

Achieve Life Sciences Price Performance

Achieve Life Sciences stock opened at $7.54 on Monday. Achieve Life Sciences has a 1 year low of $2.62 and a 1 year high of $8.64. The firm has a market capitalization of $775.87 million, a P/E ratio of -4.86 and a beta of 2.25. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average of $7.35 and a 200-day moving average of $5.68.

Achieve Life Sciences (NASDAQ:ACHV) last announced its earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.64). On average, equities analysts anticipate that Achieve Life Sciences will post -0.91 EPS for the current year.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc is a clinical-stage pharmaceutical company focused on developing and commercializing cytisinicline, an investigational therapy designed to help adults stop smoking and address nicotine dependence. The company is listed on the Nasdaq Capital Market under the symbol ACHV.

Cytisinicline is a plant-derived small molecule that acts on neuronal nicotinic acetylcholine receptors involved in nicotine addiction. Achieve is evaluating the therapy in clinical studies for smoking cessation and potential support for quitting other forms of nicotine use.