Achieve Life Sciences (NASDAQ:ACHV) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Achieve Life Sciences to “strong sell” from “hold,” contrasting with the broader analyst consensus of “Buy” and an average price target of $15.00.
• ACHV shares rose 4.7% to $7.59, near their 52-week high of $7.60, while the company reported a quarterly loss of $0.80 per share—$0.64 worse than analysts’ expectations.
• Institutional investors and hedge funds own 33.52% of the company, with several firms—including Raymond James and Bank of America—recently increasing their positions.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 target price on shares of Achieve Life Sciences in a report on Wednesday. Morgan Stanley assumed coverage on Achieve Life Sciences in a report on Thursday. They set an "overweight" rating and a $13.00 price target for the company. Canaccord Genuity Group set a $13.00 price target on Achieve Life Sciences and gave the stock a "buy" rating in a research report on Monday, April 20th. Raymond James Financial restated a "strong-buy" rating and issued a $18.00 price objective on shares of Achieve Life Sciences in a research note on Wednesday. Finally, Weiss Ratings raised Achieve Life Sciences from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $15.00.

Achieve Life Sciences Trading Up 4.7%

Shares of NASDAQ:ACHV opened at $7.59 on Friday. The company's 50-day moving average price is $6.12 and its two-hundred day moving average price is $4.93. Achieve Life Sciences has a one year low of $2.46 and a one year high of $7.60. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.95 and a quick ratio of 2.62. The stock has a market capitalization of $781.01 million, a PE ratio of -4.90 and a beta of 2.24.

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 for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.64). On average, equities analysts forecast that Achieve Life Sciences will post -0.94 EPS for the current fiscal year.

Institutional Trading of Achieve Life Sciences

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in Achieve Life Sciences in the 1st quarter valued at $32,000. Qube Research & Technologies Ltd bought a new position in Achieve Life Sciences during the 2nd quarter worth $232,000. Raymond James Financial Inc. lifted its holdings in shares of Achieve Life Sciences by 57.1% during the second quarter. Raymond James Financial Inc. now owns 295,058 shares of the biopharmaceutical company's stock worth $667,000 after buying an additional 107,218 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Achieve Life Sciences during the second quarter worth $159,000. Finally, Bank of America Corp DE lifted its holdings in shares of Achieve Life Sciences by 39.9% during the second quarter. Bank of America Corp DE now owns 33,731 shares of the biopharmaceutical company's stock worth $76,000 after buying an additional 9,617 shares in the last quarter. 33.52% of the stock is 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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