Achieve Life Sciences, Inc. (NASDAQ:ACHV) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $14.6667.

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings upgraded Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. 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. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Achieve Life Sciences in a research report on Thursday, April 16th.

Achieve Life Sciences Stock Performance

Shares of ACHV opened at $5.52 on Friday. Achieve Life Sciences has a 12-month low of $2.00 and a 12-month high of $6.16. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $566.68 million, a price-to-earnings ratio of -4.93 and a beta of 2.27. The stock’s 50-day moving average price is $4.61 and its 200 day moving average price is $4.53.

Achieve Life Sciences (NASDAQ:ACHV) last released its quarterly earnings data on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.11. As a group, research analysts predict that Achieve Life Sciences will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brevan Howard Capital Management LP bought a new position in Achieve Life Sciences during the second quarter worth about $145,000. Jump Financial LLC bought a new position in Achieve Life Sciences during the fourth quarter worth about $104,000. Charles Schwab Investment Management Inc. bought a new position in Achieve Life Sciences during the fourth quarter worth about $99,000. HRT Financial LP bought a new position in Achieve Life Sciences during the fourth quarter worth about $93,000. Finally, Magnolia Capital Advisors LLC bought a new position in Achieve Life Sciences during the fourth quarter worth about $64,000. 33.52% of the stock is currently owned by institutional investors.

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.