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

Key Points

• Achieve Life Sciences has a consensus “Buy” rating from seven brokerages, with four buys, two strong buys, and one sell. Analysts’ average 12-month price target is $16, versus the stock’s recent price of $6.42.
• ACHV shares have risen 1.9%, with the stock trading between a 52-week range of $2.37 and $7.11. The company reported a quarterly loss of $0.19 per share, beating analyst expectations of a $0.30 loss.
• Institutional investors own approximately 33.52% of the company, while several funds recently initiated or increased positions. Achieve is developing cytisinicline, a potential smoking-cessation treatment.

Shares of Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) have been given a consensus rating of "Buy" by the seven brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $16.00.

Several research firms have commented on ACHV. Weiss Ratings raised shares of Achieve Life Sciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 22nd. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price target on shares of Achieve Life Sciences in a report on Monday, June 22nd. Canaccord Genuity Group set a $13.00 price target on shares of Achieve Life Sciences and gave the stock a "buy" rating in a research report on Monday, April 20th. UBS Group restated a "buy" rating on shares of Achieve Life Sciences in a research report on Tuesday, June 23rd. Finally, Wall Street Zen upgraded Achieve Life Sciences from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th.

Achieve Life Sciences Stock Up 1.9%

Shares of NASDAQ ACHV opened at $6.42 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.62 and a current ratio of 2.62. Achieve Life Sciences has a 52 week low of $2.37 and a 52 week high of $7.11. The stock has a market capitalization of $659.08 million, a P/E ratio of -5.73 and a beta of 2.21. The stock's fifty day moving average is $5.77 and its 200 day moving average is $4.85.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The biopharmaceutical company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.30) by $0.11. Sell-side analysts forecast that Achieve Life Sciences will post -0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of institutional investors have recently modified their holdings of the business. AQR Capital Management LLC acquired a new stake in Achieve Life Sciences in the first quarter valued at about $32,000. Magnolia Capital Advisors LLC bought a new position in Achieve Life Sciences in the fourth quarter valued at about $64,000. Jefferies Financial Group Inc. acquired a new position in Achieve Life Sciences during the fourth quarter worth about $84,000. HRT Financial LP acquired a new position in Achieve Life Sciences during the fourth quarter worth about $93,000. Finally, Robertson Stephens Wealth Management LLC raised its stake in 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 worth $99,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 33.52% of the company's stock.

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.

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