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

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV) have been given a consensus rating of “Buy” by the seven analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $16.00.

A number of research analysts have recently commented on the company. Raymond James Financial began coverage on Achieve Life Sciences in a research note on Friday, June 26th. They issued a “strong-buy” rating and a $20.00 price target for the company. UBS Group restated a “buy” rating on shares of Achieve Life Sciences in a research report on Tuesday, June 23rd. Canaccord Genuity Group set a $13.00 target price on Achieve Life Sciences and gave the stock a “buy” rating in a report on Monday, April 20th. Wall Street Zen upgraded Achieve Life Sciences from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Achieve Life Sciences in a research note on Monday, June 22nd.

Institutional Investors Weigh In On Achieve Life Sciences

Several hedge funds have recently added to or reduced their stakes in the business. 683 Capital Management LLC bought a new stake in Achieve Life Sciences during the 4th quarter worth approximately $1,068,000. Manchester Financial Inc. increased its position in Achieve Life Sciences by 26.6% in the 4th quarter. Manchester Financial Inc. now owns 59,084 shares of the biopharmaceutical company’s stock valued at $294,000 after acquiring an additional 12,410 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Achieve Life Sciences during the fourth quarter valued at $84,000. Robertson Stephens Wealth Management LLC raised its stake in shares of Achieve Life Sciences by 100.0% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 20,000 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Members Wealth LLC acquired a new position in shares of Achieve Life Sciences during the fourth quarter worth $153,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

Achieve Life Sciences Price Performance

Shares of NASDAQ:ACHV opened at $6.42 on Friday. The company has a market cap of $659.08 million, a price-to-earnings ratio of -5.73 and a beta of 2.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.62 and a quick ratio of 2.62. The firm has a 50 day simple moving average of $5.77 and a 200 day simple moving average of $4.85. Achieve Life Sciences has a one year low of $2.37 and a one year high of $7.11.

Achieve Life Sciences (NASDAQ:ACHV) last issued its earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.11. Research analysts predict that Achieve Life Sciences will post -0.81 earnings per share for the current fiscal year.

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.