Achieve Life Sciences, Inc. (NASDAQ:ACHV) Receives $15.50 Average Target Price from Analysts

Achieve Life Sciences, Inc. (NASDAQ:ACHV) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.50.

A number of brokerages have commented on ACHV. Citizens Jmp began coverage on shares of Achieve Life Sciences in a report on Tuesday, November 25th. They set a “market outperform” rating and a $19.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Achieve Life Sciences in a research report on Monday, December 29th. Citigroup assumed coverage on Achieve Life Sciences in a research note on Tuesday, November 25th. They issued an “outperform” rating for the company. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Achieve Life Sciences in a report on Monday, November 24th.

Achieve Life Sciences Stock Performance

Shares of ACHV opened at $4.27 on Thursday. The firm has a market capitalization of $227.29 million, a P/E ratio of -3.09 and a beta of 1.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 5.14 and a quick ratio of 5.14. Achieve Life Sciences has a one year low of $1.84 and a one year high of $6.03. The business has a fifty day moving average of $4.75 and a 200 day moving average of $4.21.

Institutional Investors Weigh In On Achieve Life Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACHV. Franklin Resources Inc. lifted its holdings in shares of Achieve Life Sciences by 18,747.4% in 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 last quarter. Hudson Bay Capital Management LP purchased a new position in Achieve Life Sciences during the 2nd quarter worth $2,652,000. Millennium Management LLC raised its position in Achieve Life Sciences by 472.3% during the 4th quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock valued at $6,755,000 after purchasing an additional 1,121,614 shares in the last quarter. Simplify Asset Management Inc. lifted its holdings in shares of Achieve Life Sciences by 443.7% in the 2nd quarter. Simplify Asset Management Inc. now owns 1,184,512 shares of the biopharmaceutical company’s stock worth $2,677,000 after buying an additional 966,667 shares during the period. Finally, Pathstone Holdings LLC bought a new position in shares of Achieve Life Sciences during the 3rd quarter worth $1,581,000. 33.52% of the stock is owned by hedge funds and other institutional investors.

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.