Achieve Life Sciences (NASDAQ:ACHV) Stock Rating Upgraded by Canaccord Genuity Group

Key Points

• Canaccord Genuity Group upgraded Achieve Life Sciences (NASDAQ:ACHV) to a strong-buy, and the analyst consensus remains a Buy with an average price target of $14.67 despite mixed opinions (2 Strong Buy, 3 Buy, 1 Sell).
• Shares opened at $4.21 and the stock has a market cap of $224.1 million, trading within a one‑year range of $2.00–$6.03 and well below the consensus price target.
• Achieve is a clinical‑stage biopharma developing cytisinicline for smoking cessation and recently reported a quarterly EPS of ($0.28), missing estimates, with analysts forecasting about -1.34 EPS for the year.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) was upgraded by analysts at Canaccord Genuity Group to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. HC Wainwright restated a "buy" rating and set a $12.00 target price on shares of Achieve Life Sciences in a report on Thursday, April 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Achieve Life Sciences in a report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $14.67.

Achieve Life Sciences Price Performance

Shares of ACHV opened at $4.21 on Monday. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.52. Achieve Life Sciences has a 1 year low of $2.00 and a 1 year high of $6.03. The stock has a market cap of $224.10 million, a P/E ratio of -3.24 and a beta of 1.96. The stock's 50-day moving average price is $3.93 and its two-hundred day moving average price is $4.37.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last issued its earnings results on Tuesday, March 24th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.01). On average, equities analysts predict that Achieve Life Sciences will post -1.34 earnings per share for the current year.

Hedge Funds Weigh In On Achieve Life Sciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 683 Capital Management LLC acquired a new stake in shares of Achieve Life Sciences during the fourth quarter worth about $1,068,000. Magnolia Capital Advisors LLC acquired a new stake in shares of Achieve Life Sciences during the fourth quarter worth about $64,000. HRT Financial LP acquired a new stake in shares of Achieve Life Sciences during the fourth quarter worth about $93,000. Manchester Financial Inc. raised its position in shares of Achieve Life Sciences by 26.6% during the fourth quarter. Manchester Financial Inc. now owns 59,084 shares of the biopharmaceutical company's stock worth $294,000 after purchasing an additional 12,410 shares during the period. Finally, Sender Co & Partners Inc. acquired a new stake in shares of Achieve Life Sciences during the second quarter worth about $56,000. Institutional investors 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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