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

Key Points

• Analysts maintain a consensus “Buy” rating on Achieve Life Sciences, with five buy, two strong-buy and one sell recommendation. The average 12-month price target is $15.00, above the reported $8.27 opening price.
• ACHV shares have risen substantially within their 12-month range, from a low of $2.62 to a high of $8.61, but the company reported a quarterly loss of $0.80 per share, missing the $0.16-per-share consensus estimate.
• Institutional ownership stands at 33.52%, supported by new positions from investors including Frazier Life Sciences Management, Alyeska Investment Group and Wellington Management; meanwhile, a company director sold 20,626 shares valued at about $175,115.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) has received an average recommendation of "Buy" from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $15.00.

A number of analysts recently weighed in on ACHV shares. HC Wainwright reiterated a "buy" rating and set a $12.00 price target on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. 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, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. UBS Group reiterated a "buy" rating on shares of Achieve Life Sciences in a research note on Wednesday, August 12th. Finally, Wall Street Zen lowered Achieve Life Sciences from a "hold" rating to a "strong sell" rating in a report on Saturday, August 15th.

Achieve Life Sciences Stock Performance

Shares of Achieve Life Sciences stock opened at $8.27 on Thursday. The business has a 50-day moving average of $6.51 and a 200 day moving average of $5.14. Achieve Life Sciences has a 12 month low of $2.62 and a 12 month high of $8.61. The stock has a market capitalization of $850.98 million, a price-to-earnings ratio of -5.34 and a beta of 2.24. 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 announced its quarterly earnings data 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). As a group, sell-side analysts forecast that Achieve Life Sciences will post -0.91 earnings per share for the current year.

Insider Buying and Selling at Achieve Life Sciences

In other Achieve Life Sciences news, Director Richard Alistair Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $8.49, for a total value of $175,114.74. Following the sale, the director owned 208,249 shares of the company's stock, valued at approximately $1,768,034.01. The trade was a 9.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Achieve Life Sciences

Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System acquired a new position in Achieve Life Sciences during the second quarter worth $46,000. Frazier Life Sciences Management L.P. acquired a new stake in Achieve Life Sciences in the second quarter valued at $49,725,000. AXQ Capital LP boosted its position in shares of Achieve Life Sciences by 65.6% during the 2nd quarter. AXQ Capital LP now owns 25,173 shares of the biopharmaceutical company's stock worth $164,000 after purchasing an additional 9,972 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Achieve Life Sciences during the 2nd quarter worth $12,575,000. Finally, Wellington Management Group LLP acquired a new position in shares of Achieve Life Sciences during the 2nd quarter worth $9,318,000. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

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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