Achieve Life Sciences (NASDAQ:ACHV) Now Covered by Analysts at Raymond James Financial

Equities researchers at Raymond James Financial initiated coverage on shares of Achieve Life Sciences (NASDAQ:ACHV) in a note issued to investors on Friday. The brokerage set a “strong-buy” rating and a $20.00 price target on the biopharmaceutical company’s stock. Raymond James Financial’s price target would indicate a potential upside of 240.72% from the stock’s previous close.

ACHV has been the subject of several other research reports. Canaccord Genuity Group set a $13.00 price target on shares of Achieve Life Sciences and gave the company a “buy” rating in a research note on Monday, April 20th. Weiss Ratings raised shares of Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Achieve Life Sciences in a report on Monday. Wall Street Zen raised Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, UBS Group reaffirmed a “buy” rating on shares of Achieve Life Sciences in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Achieve Life Sciences presently has an average rating of “Buy” and a consensus target price of $16.00.

Achieve Life Sciences Price Performance

Shares of ACHV stock traded up $0.17 during trading hours on Friday, reaching $5.87. The company’s stock had a trading volume of 143,819 shares, compared to its average volume of 1,166,201. Achieve Life Sciences has a fifty-two week low of $2.00 and a fifty-two week high of $6.16. The firm’s 50 day simple moving average is $4.95 and its 200-day simple moving average is $4.57. 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 company has a market capitalization of $602.61 million, a price-to-earnings ratio of -5.26 and a beta of 2.27.

Achieve Life Sciences (NASDAQ:ACHV) last announced 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. Sell-side analysts forecast that Achieve Life Sciences will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in 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 valued at $21,715,000 after acquiring an additional 4,346,011 shares in the last quarter. Vanguard Group Inc. increased its holdings in Achieve Life Sciences by 14.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,461,802 shares of the biopharmaceutical company’s stock worth $7,755,000 after purchasing an additional 311,925 shares in the last quarter. Millennium Management LLC raised its stake in shares of Achieve Life Sciences by 472.3% in the fourth quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company’s stock worth $6,755,000 after purchasing an additional 1,121,614 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Achieve Life Sciences in the second quarter worth approximately $2,652,000. Finally, Marshall Wace LLP lifted its holdings in shares of Achieve Life Sciences by 31.5% in the fourth quarter. Marshall Wace LLP now owns 1,019,281 shares of the biopharmaceutical company’s stock valued at $5,066,000 after purchasing an additional 244,428 shares in the last quarter. 33.52% of the stock is 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.