Achieve Life Sciences, Inc. (NASDAQ:ACHV) Stock Has Average Target Price of $15.50 According to Brokerages

Key Points

• Analyst sentiment is broadly positive: Nine brokerages give Achieve Life Sciences an average “Buy” recommendation, with an average 12-month price target of $15.50. Ratings include six Buy, two Strong Buy and one Sell.
• ACHV opened at $6.78, compared with a 52-week range of $2.62–$8.64. Recent analyst targets cited range from $13 to $18.
• The clinical-stage biotech reported a quarterly loss of $0.80 per share, missing the consensus estimate of a $0.16 loss. A director also sold 20,626 shares at an average price of $8.49.

Achieve Life Sciences, Inc. (NASDAQ:ACHV - Get Free Report) has been given an average recommendation of "Buy" by the nine brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $15.50.

Several equities research analysts have recently weighed in on ACHV shares. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $18.00 target price on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Morgan Stanley assumed coverage on Achieve Life Sciences in a report on Thursday, August 13th. They set an "overweight" rating and a $13.00 target price on the stock. UBS Group reissued a "buy" rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Achieve Life Sciences in a research report on Wednesday, August 19th. Finally, Stifel Nicolaus set a $18.00 price objective on shares of Achieve Life Sciences and gave the company a "buy" rating in a research note on Tuesday, September 29th.

Achieve Life Sciences Stock Performance

NASDAQ:ACHV opened at $6.78 on Tuesday. The firm's fifty day simple moving average is $7.28 and its 200 day simple moving average is $5.69. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Achieve Life Sciences has a twelve month low of $2.62 and a twelve month high of $8.64. The firm has a market capitalization of $697.66 million, a price-to-earnings ratio of -4.37 and a beta of 2.42.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last announced 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). As a group, equities research analysts expect that Achieve Life Sciences will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Achieve Life Sciences news, Director Richard Stewart sold 20,626 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $8.49, for a total value of $175,114.74. Following the completion of the transaction, the director directly owned 208,249 shares of the company's stock, valued at $1,768,034.01. This represents a 9.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp grew its stake in Achieve Life Sciences by 92.7% during the 3rd quarter. Fifth Third Bancorp now owns 4,413 shares of the biopharmaceutical company's stock valued at $36,000 after purchasing an additional 2,123 shares in the last quarter. Legal & General Group Plc purchased a new stake in Achieve Life Sciences during the 2nd quarter worth approximately $49,000. SLT Holdings LLC acquired a new position in shares of Achieve Life Sciences in the 3rd quarter valued at approximately $89,000. Magnolia Capital Advisors LLC acquired a new position in shares of Achieve Life Sciences in the 2nd quarter valued at approximately $99,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Achieve Life Sciences in the 2nd quarter valued at approximately $135,000. Hedge funds and other institutional investors own 33.52% of the company's stock.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing cytisinicline, a therapy designed to help adults quit smoking and overcome nicotine addiction. Cytisinicline is an oral, plant-based small molecule that partially activates nicotinic acetylcholine receptors, with the goal of reducing nicotine cravings and withdrawal symptoms.

The company has evaluated cytisinicline in clinical studies involving adults who smoke cigarettes, including trials assessing smoking cessation and cessation of electronic cigarette use.

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