Achieve Life Sciences (NASDAQ:ACHV) Sets New 12-Month High - Should You Buy?

Key Points

• ACHV reached a new 52-week high, trading as high as $7.60 and closing near $7.52, with a market capitalization of approximately $774 million.
• Analyst sentiment is broadly positive: the stock has a consensus “Buy” rating and an average price target of $15, including targets of $18 from Raymond James and $13 from Morgan Stanley.
• The company remains loss-making and recently missed earnings expectations, reporting a quarterly loss of $0.80 per share versus a projected loss of $0.16; analysts expect a full-year loss of $0.91 per share.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $7.60 and last traded at $7.52, with a volume of 1063131 shares. The stock had previously closed at $7.50.

Wall Street Analysts Forecast Growth

ACHV has been the topic of several research reports. UBS Group restated a "buy" rating on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $18.00 price target on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of Achieve Life Sciences from a "hold" rating to a "strong sell" rating in a research report on Saturday. Weiss Ratings upgraded shares of Achieve Life Sciences from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 22nd. Finally, Morgan Stanley started coverage on shares of Achieve Life Sciences in a research report on Thursday, August 13th. They issued an "overweight" rating and a $13.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Achieve Life Sciences currently has a consensus rating of "Buy" and an average target price of $15.00.

Achieve Life Sciences Stock Up 0.3%

The firm has a market capitalization of $773.81 million, a P/E ratio of -4.85 and a beta of 2.24. The firm's 50 day moving average is $6.20 and its two-hundred day moving average is $4.97. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 0.95.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.64). Research analysts predict that Achieve Life Sciences, Inc. will post -0.91 EPS for the current year.

Hedge Funds Weigh In On Achieve Life Sciences

A number of institutional investors have recently bought and sold shares of the business. venBio Partners LLC acquired a new stake in Achieve Life Sciences during the 2nd quarter valued at $38,623,122,000. BlackRock Inc. acquired a new stake in shares of Achieve Life Sciences during the 2nd quarter worth about $34,426,000. Franklin Resources Inc. lifted its stake in shares of Achieve Life Sciences by 18,747.4% during the 4th quarter. Franklin Resources Inc. now owns 4,369,193 shares of the biopharmaceutical company's stock worth $21,715,000 after buying an additional 4,346,011 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of Achieve Life Sciences during the 2nd quarter worth about $17,964,000. Finally, Vanguard Group Inc. grew its stake in Achieve Life Sciences by 14.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,461,802 shares of the biopharmaceutical company's stock valued at $7,755,000 after buying an additional 311,925 shares during the last quarter. Institutional investors and hedge funds own 33.52% of the company's stock.

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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