Frazier Life Sciences Management L.P. Buys New Stake in Achieve Life Sciences, Inc. $ACHV

Key Points

• Frazier Life Sciences Management acquired 7.6 million Achieve Life Sciences shares worth approximately $49.7 million, giving it a 7.4% stake and making ACHV its 19th-largest holding. Institutional investors and hedge funds collectively own 33.5% of the company.
• Achieve reported a quarterly loss of $0.80 per share, missing the $0.16-per-share consensus estimate; analysts expect a full-year loss of $0.91 per share.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a $15 consensus price target versus the stock’s $8.49 opening price, although ratings range from “Strong Buy” to “Sell.”

Frazier Life Sciences Management L.P. purchased a new position in Achieve Life Sciences, Inc. (NASDAQ:ACHV - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,614,836 shares of the biopharmaceutical company's stock, valued at approximately $49,725,000. Achieve Life Sciences makes up 1.1% of Frazier Life Sciences Management L.P.'s investment portfolio, making the stock its 19th largest holding. Frazier Life Sciences Management L.P. owned approximately 7.40% of Achieve Life Sciences at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ACHV. Legal & General Group Plc bought a new stake in shares of Achieve Life Sciences in the 2nd quarter valued at approximately $49,000. AQR Capital Management LLC bought a new position in shares of Achieve Life Sciences during the 1st quarter worth approximately $32,000. Magnolia Capital Advisors LLC acquired a new stake in Achieve Life Sciences in the 4th quarter valued at $64,000. Jefferies Financial Group Inc. bought a new stake in Achieve Life Sciences in the fourth quarter valued at $84,000. Finally, HRT Financial LP acquired a new position in Achieve Life Sciences during the fourth quarter worth $93,000. 33.52% of the stock is owned by institutional investors and hedge funds.

Achieve Life Sciences Stock Performance

Shares of NASDAQ ACHV opened at $8.49 on Monday. Achieve Life Sciences, Inc. has a 1-year low of $2.62 and a 1-year high of $8.64. The company has a market cap of $873.62 million, a PE ratio of -5.48 and a beta of 2.25. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average of $6.93 and a two-hundred day moving average of $5.34.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ACHV shares. Weiss Ratings restated a "sell (d-)" rating on shares of Achieve Life Sciences in a research note on Wednesday, August 19th. HC Wainwright reissued a "buy" rating and set a $12.00 price target on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Wall Street Zen cut shares of Achieve Life Sciences from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $18.00 price objective on shares of Achieve Life Sciences in a report on Wednesday, August 12th. Finally, UBS Group restated a "buy" rating on shares of Achieve Life Sciences in a research report on Wednesday, August 12th. Two research 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 stock. According to MarketBeat, Achieve Life Sciences presently has an average rating of "Buy" and a consensus price target of $15.00.

Insider Buying and Selling

In other news, Director Richard Stewart sold 20,626 shares of Achieve Life Sciences stock in a transaction 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 completion of the sale, the director directly owned 208,249 shares of the company's stock, valued at approximately $1,768,034.01. This trade represents a 9.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company's stock.

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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