Achieve Life Sciences' (ACHV) Buy Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reiterated a Buy rating on Achieve Life Sciences with a $12 price target, implying about a 238% upside from the current stock price.
• Analyst opinions are mixed—Weiss Ratings kept a "Sell (D-)" while MarketBeat shows one Strong Buy, three Buys and one Sell, giving an average rating of Moderate Buy and an average target of $15.50.
• The stock opened at $3.55 with a market cap of about $189M and reported a Q EPS loss of $0.28 (missed by $0.01) with analysts forecasting -1.17 EPS for the year; institutional activity is notable, including Franklin Resources now holding 4.37M shares and institutions owning about 33.52% of the stock.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $12.00 price target on the biopharmaceutical company's stock. HC Wainwright's price objective indicates a potential upside of 238.03% from the stock's current price.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Achieve Life Sciences in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Achieve Life Sciences has an average rating of "Moderate Buy" and an average target price of $15.50.

Achieve Life Sciences Price Performance

Shares of NASDAQ:ACHV opened at $3.55 on Thursday. The business's fifty day moving average price is $3.90 and its two-hundred day moving average price is $4.32. The stock has a market cap of $188.97 million, a PE ratio of -2.73 and a beta of 1.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.39 and a current ratio of 4.39. Achieve Life Sciences has a one year low of $1.95 and a one year high of $6.03.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last announced its earnings results on Tuesday, March 24th. The biopharmaceutical company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). On average, analysts forecast that Achieve Life Sciences will post -1.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACHV. Franklin Resources Inc. raised its holdings 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 during the last quarter. Hudson Bay Capital Management LP purchased a new stake in Achieve Life Sciences in the 2nd quarter valued at about $2,652,000. Millennium Management LLC grew its holdings in Achieve Life Sciences by 472.3% in the 4th quarter. Millennium Management LLC now owns 1,359,116 shares of the biopharmaceutical company's stock valued at $6,755,000 after buying an additional 1,121,614 shares during the period. Pathstone Holdings LLC purchased a new stake in Achieve Life Sciences in the 3rd quarter valued at about $1,581,000. Finally, KVP Capital Advisors LP purchased a new stake in Achieve Life Sciences in the 4th quarter valued at about $2,298,000. 33.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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