Nantahala Capital Management LLC Has $2.40 Million Holdings in Achieve Life Sciences, Inc. $ACHV

Key Points

• Nantahala Capital Management LLC increased its stake in Achieve Life Sciences by 37.4%, owning approximately 898,885 shares valued at $2.40 million.
• Analysts have set an average price target of $14.67 for Achieve Life Sciences, with a strong buy rating from four analysts, including a new target price of $12.00 from HC Wainwright.
• Achieve Life Sciences reported an earnings per share (EPS) of ($0.37), meeting analysts' consensus estimates, and the company focuses on developing cytisinicline for smoking cessation.

Nantahala Capital Management LLC grew its stake in Achieve Life Sciences, Inc. (NASDAQ:ACHV - Free Report) by 37.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 898,885 shares of the biopharmaceutical company's stock after acquiring an additional 244,885 shares during the period. Nantahala Capital Management LLC owned 2.59% of Achieve Life Sciences worth $2,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Achieve Life Sciences by 185.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,545 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 4,905 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Achieve Life Sciences during the fourth quarter worth approximately $554,000. Northern Trust Corp raised its stake in shares of Achieve Life Sciences by 11.7% during the fourth quarter. Northern Trust Corp now owns 416,796 shares of the biopharmaceutical company's stock worth $1,467,000 after buying an additional 43,682 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Achieve Life Sciences by 37.0% during the fourth quarter. Bank of America Corp DE now owns 36,168 shares of the biopharmaceutical company's stock worth $127,000 after buying an additional 9,760 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Achieve Life Sciences during the fourth quarter worth approximately $62,000. 33.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright began coverage on shares of Achieve Life Sciences in a research note on Thursday, August 21st. They set a "buy" rating and a $12.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy" and a consensus price target of $14.67.

Achieve Life Sciences Trading Up 1.4%

NASDAQ:ACHV traded up $0.04 during trading hours on Friday, hitting $2.83. The stock had a trading volume of 1,421,517 shares, compared to its average volume of 1,383,538. Achieve Life Sciences, Inc. has a one year low of $1.84 and a one year high of $5.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.64 and a current ratio of 6.64. The company has a market cap of $144.61 million, a price-to-earnings ratio of -1.94 and a beta of 1.53. The business's 50 day moving average is $2.63 and its 200-day moving average is $2.78.

Achieve Life Sciences (NASDAQ:ACHV - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.37) EPS for the quarter, meeting the consensus estimate of ($0.37). Sell-side analysts anticipate that Achieve Life Sciences, Inc. will post -1.17 EPS for the current fiscal year.

Achieve Life Sciences Company Profile

Achieve Life Sciences, Inc, a clinical-stage pharmaceutical company, develops and commercializes cytisinicline for smoking cessation and nicotine addiction. The company offers cytisinicline, a plant-based alkaloid that interacts with nicotine receptors in the brain that reduce the severity of nicotine withdrawal symptoms.