Achieve Life Sciences (NASDAQ:ACHV) Sets New 1-Year High – Here’s What Happened

Achieve Life Sciences, Inc. (NASDAQ:ACHV)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $6.31 and last traded at $6.12, with a volume of 283150 shares traded. The stock had previously closed at $6.02.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ACHV. UBS Group reaffirmed a “buy” rating on shares of Achieve Life Sciences in a research report on Tuesday, June 23rd. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Achieve Life Sciences in a report on Monday, June 22nd. Weiss Ratings raised Achieve Life Sciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 22nd. Raymond James Financial initiated coverage on Achieve Life Sciences in a report on Friday. They issued a “strong-buy” rating and a $20.00 target price on the stock. Finally, Canaccord Genuity Group set a $13.00 target price on Achieve Life Sciences and gave the company a “buy” rating in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $16.00.

Achieve Life Sciences Price Performance

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 business’s 50-day moving average is $5.00 and its two-hundred day moving average is $4.57. The company has a market capitalization of $632.39 million, a P/E ratio of -5.48 and a beta of 2.27.

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

Institutional Trading of Achieve Life Sciences

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC bought a new stake in Achieve Life Sciences during the first quarter worth $32,000. Qube Research & Technologies Ltd bought a new position in Achieve Life Sciences in the 2nd quarter valued at $232,000. Raymond James Financial Inc. increased its position in shares of Achieve Life Sciences by 57.1% during the 2nd quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company’s stock valued at $667,000 after purchasing an additional 107,218 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Achieve Life Sciences during the 2nd quarter valued at $159,000. Finally, Bank of America Corp DE raised its stake 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 worth $76,000 after purchasing an additional 9,617 shares during the period. 33.52% of the stock is owned by hedge funds and other 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.